Shares of Tesla slid as much as 2.5% Tuesday as investors arrive for the electric-car maker’s annual meeting in California, which kicks off after markets close.
The stock has had a rough start to 2018, down 7%, as worries of the company’s need for cash swirl around Wall Street. That cash burn, alongside concerns about the company’s ongoing struggle to meet its own Model 3 production goals, are sure to be at the top of shareholders’ minds.
Among the proposals to be considered by investors will be the re-election of three Tesla board members, including CEO Elon Musk’s brother, Kimball, who have seen opposition in recent months.
Tesla’s slide, down 10% since the beginning of the year, is sure to be music to the ears of short-sellers, who currently have more than $11 billion riding against the stock, according to data compiled by financial-analytics provider S3 Partners.
Here are some of the major stories Tesla investors are likely to be discussing when the meeting kicks off at 5:30 pm Pacific Time. You can stream the full event here.
- Internal documents reveal Tesla is blowing through an insane amount of raw material and cash to make Model 3s, and production is still a nightmare
- Investors have $11 billion riding against Tesla as its annual meeting kicks off
- A Tesla board member was ousted from his venture capital firm amid sexual harassment allegations – now there are calls for him to be booted from the automaker too
- Elon Musk’s brother should be booted from Tesla’s board as the company’s looking ‘more tenuous than ever’
- There’s growing concern over Tesla’s finances — and Wall Street is convinced the company will need to raise money soon
Leave a Reply
Leave a Reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
