It's a beautiful trifecta for Tesla this evening, provided you are short. I have no position.
MarketWatch reports Tesla stock falls even farther after recall of 123,000 Model S cars.
Tesla Inc. finished off its worst month in seven years with the news late Thursday that the electric-auto maker is recalling 123,000 Model S vehicles due to a potential flaw in a power steering component.
The recall of the Model S vehicles is due to a bolt that could corrode, an issue that occurs in cars built before April 2016, and in winter conditions where roads are frequently salted, the company said. Just 0.02% of the cars ever experience the problem, Tesla said.
It's a small percentage of cars involved in the recall, but it will prove to be costly to a company already struggling to stay afloat.
Bonds Ouch!
Tesla bonds…ouch. The current implied yield of nearly 7.7% on Tesla 2025 debt is unsustainably high for the company, which needs to raise several billion dollars by the beginning of next year to remain viable: Bloomberg Intelligence's @JoelLevington1 pic.twitter.com/MDFq6nhbOI
— Lisa Abramowicz (@lisaabramowicz1) March 28, 2018
credit Rating
$TSLA Once you slip one more notch, no one will touch you. pic.twitter.com/p6P8i4IIJc
— BossHogg (@BossHoggHazzard) March 29, 2018
Fraudulent Conveyance Lawsuit
Going back to my bk practice days, +1 way 2👀@ $TSLA
— FZucchi (@FZucchi) March 29, 2018
