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Society & Lifestyle

Tesla stock price has fallen by nearly half?

Mar 23, 2020

The company has already suspended production at its factory in New York and California

Tesla stock price has fallen

Tesla stock price has fallen by nearly half. Source: shutterstock.com

Tesla stock price has lost nearly half of its value so far during the coronavirus market selloff, LearnBonds found. The report revealed that lockdowns and slowing economic growth impact the company’s outlook.

However, Tesla claims to be in a strong cash position to face the production interruption due to the coronavirus outbreak. The company said it had $6.3 billion of cash at the end of the Q4 of 2019.

Tesla has also raised $2.3 billion of capital by selling common stock and bonds in February 2020. Although, the carmaker’s stock has fallen from nearly $970 per share in February to around $470 per share currently.

We believe this level of liquidity is sufficient to successfully navigate an extended period of uncertainty. At the end of Q4 2019, we had available credit lines worth approximately $3 billion including working capital lines for all regions as well as financing for the expansion of our Shanghai factory
Tesla

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