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