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April 27, 2019 02:34 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/e9bmzNOumG0/after-702m-loss-tesla-stock-sinks-to-lowest-price-in-two-years
After $702M Loss, Tesla Stock Sinks To Lowest Price in Two Years
Tesla stock price "slumped 5% on Friday to its lowest in two years," reports Reuters, citing in part "a pitch by Chief Executive Elon Musk on autonomous cars that failed to win over investors."Musk is still battling to convince investors that demand for the Model 3, the company's first car aimed at the mass consumer market, is "insanely" high, and that it can be delivered efficiently to customers around the world.... On Wednesday, Tesla posted a worse-than-expected loss of $702 million for the March quarter. Musk said Tesla would return to profit in the third quarter and that there was "some merit" to raising capital.... Tesla's stock has now fallen 29 percent in 2019 and the company's market capitalization has declined to $41 billion from $63 billion in mid-December. After overtaking the market capitalizations of General Motors and Ford Motor in 2017, Tesla slipped back below GM in January, and on Friday it dipped back below the market value of Ford, which saw its stock surge 10% after reporting a better-than-expected quarter. Analysts now expect Tesla's revenue to expand 19% in 2019, compared with 83% growth in 2018 and 68% growth in 2017, according to Refinitiv. MarketWatch helpfully illustrated the -5.04% drop in Tesla's stock price over three days by animating it over a picture of Elon Musk's face in front of a bullseye.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/e9bmzNOumG0/after-702m-loss-tesla-stock-sinks-to-lowest-price-in-two-years
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