We know we shouldn’t ask – because it’s “not cool” – but is this chart yet another reason why Tesla’s bonds are tumbling (and stock is back below $300)…
Did Elon Musk stop paying his bills?
That would certainly make the already ugly cash burn look a little better in the short term?
As Bloomberg notes, Tesla is going through money so fast that, without additional financing, there is now a genuine risk that the 15-year-old company could run out of cash in 2018. The company burns through more than $6,500 every minute.
And for now Tesla stocks and bonds are tumbling…
Stocks started their descent when Musk dismissed an analyst question…
And bonds are reeling…
As it’s becoming clear Musk is running out of cash… and has a lot of debt already…
As Bloomberg notes, there’s a good reason to worry: No one has raised or spent money the way Elon Musk has. Nor has any other chief executive officer of a public company made a bankruptcy joke on Twitter at a time when so much seemed to be unraveling.
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