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- Tesla shares have plummeted by 35% since the approach of their highest records after CEO Elon Musk's "secure financing" tweet.
- On Monday, they were competing with their lowest close since March 2017.
- Watch Tesla's trade in real time here.
Tesla shares were under pressure Monday, losing more than 3% to $ 252.61 and rivaling their nearest close for more than a year and a half. A price below $ 252.48 would be the lowest end-of-day stock price since March 2017.
The title of Tesla reached a near-record record of $ 387.46 on August 7, the day CEO Elon Musk tweeted that he had "secured funding" to take the private electric car maker to $ 420 per action.
But shareholders have had two difficult months since, because Musk had not obtained the necessary funds and was finally sued by the Securities and Exchange Commission, which accused him of "false and misleading statements."
Musk settled the dispute at the end of September, agreeing to step down as president of Tesla for at least three years and pay a $ 20 million fine to his employer. In the fallout, Tesla shares fell by 35%.
And the actions of Tesla are not out of the wood yet. While the Bloomberg consensus for the stock is $ 291.65, up 15% from current levels, analysts are starting to be increasingly skeptical of the electric car maker.
Last week, Tesla announced that shipments exceeded Wall Street estimates, but the shares sold as analysts began to anticipate the next report on the company's results.
In the end, it will be profitability. Tesla 's second – quarter results, released August 1, showed negative free cash flow of $ 739 million, resulting in a loss of approximately $ 3 per share. This has led many street analysts to consider capital injection into their models before the end of the year.
"We doubt that the bridging of the bridge for production and deliveries translates into a profitability of the 3Q, but we believe that the move to full transmission production at 4Q could enable the company to achieve profitability. adjusted to 4Q, well Profitability, "said Cowen analyst Jeff Osborne, following the company's release report released in September.
"We still see the need for an increase of $ 2 billion in the fourth quarter."
Insider Markets
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