Tesla's shares have plunged and its bonds recently traded at an all-time low
shareholders meeting on June 11th Elon Musk was as ebullient as ever. But its shares, which started the year above $300, have plunged close to $200 and its bonds recently traded at an all-time low of close to 80 cents on the dollar.
Deliveries of the Model 3, the firm’s mass-market electric vehicle , fell by over a fifth in the first quarter compared with the previous quarter, casting doubt on the firm’s annual sales target. Tesla raised $2.7bn in convertible debt and stock in May, but questions remain about how much cash it can generate—it burned through over $900m in the first quarter.
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