$TSLA

Wednesday, covered in Red Ink Tesla’s (NASDAQ:TSLA) erstwhile CEO Elon Musk suggested a capital raise could be imminent, as the US’ fledgling EV maker lost $700-M in Q-1 and while optimistically predicting a return to profit in Q-3.

Tesla big plans to resolve logistics issues with global vehicle deliveries after suffering stiff headwinds marked by staff layoffs and a public dust-ups between Mr. Musk, the SEC and DOJ.

Shares of Tesla are deep into Bear market territory down 24%+ YTD, the stock fell on results which came more than 1-hr after they were expected.

The guidance for Q-2 is moribund, and for Y 2019 Tesla, Mr. Musk and its shares look to be headed due South, as there is no support for the stock, and the overhead resistance is daunting.

Mr. Musk is having trouble convincing analysts and investors that demand for the M-3, the sedan hoped to drive Tesla to sustainable profit. In fact, lower deliveries added to worries over Tesla’s cash situation and increased speculation a capital raise is needed very soon or Tesla will be sent to the bone yard of modern US carmakers of all sorts.

Thursday, Mr. Musk and the SEC are expected to tell a federal judge the status of discussions to resolve their dispute over Mr. Musk’s Twitter use.

HeffX-LTN’s overall technical outlook for TSLA is Very Bearish in here as there is no support for the stock and huge overhead resistance.

Tesla reported net loss attributable to common shareholders of $702.1-M, or 4.10/share, in Q-1, compared with a loss of $709.6-M, or 4.19/share, a year earlier.

Excluding some items, Tesla lost 1.77/share, compared with Wall Street expectations of a loss of 0.69/share, according to data from Refinitiv.

Stay tuned…

  bankruptcy, bearish, capital, cash, deliveries, DOJ, EV, ink, logistics, loss, M-3, Musk, Red, resistance, SEC, street, support, Tesla, TSLA, Wall

The following two tabs change content below.

• Bio
• Latest Posts

HEFFX Australia

HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

Latest posts by HEFFX Australia (see all)

• CK Hutchison (0001.HK) Worth A Look - August 9, 2020
• Hocquart History: A classic prep on a new path - August 7, 2020
• Hocquart Longines Preview: A battle of three parties - August 7, 2020