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Wall Street’s convinced Tesla will need to raise more cash, and has some theories about how and when that may happen
With its future more in question than possibly ever before, Wall Street analysts are theorizing how Tesla's path to profitability could play out.
The criminal probe comes one month after federal prosecutors also opened a fraud investigation relating to the billionaire's claims that funding had been secured to take Tesla private at $420 per share.
Saudi Arabi's Public Investment Fund had previously been in talks with Tesla around the time of its exploration of going private, but those talks have since fallen through.
Shares of Tesla jumped as much as 6% on Monday after Baird analysts published a bullish note on the company. Shares were under pressure last week on news of senior personnel changes and after CEO Elon Musk was filmed smoking marijuana during a live interview.
‘He doesn’t seem to want to build any confidence’: Wall Street’s starting to ask questions of Elon Musk
For a brief period during Musk’s failed bid to take the company private (and avoid the scrutiny and disclosures that come with being a public company), it looked like Tesla might be safe. Now Wall Street isn't so sure.
"Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations,” Morton said at the time in comments revealed in the regulatory filing Friday.
Tesla sinks after a notorious short-seller sues Elon Musk over his alleged attempt to burn investors like him
The founder of Citron Research alleged in a California court filing Thursday that Elon Musk's "funding secured" tweet — which sent the stock up 11% in a matter of hours — was sent simply to burn short sellers, who lost more than $3 billion during the stock's surge.
Away from Wall Street, Musk re-instated his attacks against a British cave diver who helped rescue the boys soccer team from a Thailand cave. In email to a Buzzfeed reporter, the billionaire told the journalist that he hopes the diver, Vernon Unsworth, sues him.
Goldman Sachs' price target of $210 is half of CEO Elon Musk's $420 price target he tweeted in August that kicked off a 16-day go-private bid which resulted in an SEC investigation, subpoena, and a slew of investor lawsuits.
Amazon's stock is now more heavily bet against than Tesla's, according to data from S3 Partners. The e-commerce giant dethroned Elon Musk's car company Thursday as the most heavily shorted stock as shares climbed above $2,000 for the first time.