Economics
Musk Confronts Wall Street Divided on Tesla in Plea to Workers
- One-year share-price targets range from $160 to $500
- Musk asks workers to cut costs ahead of planned capital raise
Why This UBS Analyst Is So Bearish on Tesla
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Elon Musk’s latest admonition to Tesla employees -- produce more, spend less -- is no simple belt-tightening before he asks investors for more cash. It also reflects Wall Street’s schism about the health of the electric-car maker.
Musk urged workers to cut costs and deliver “every car we possibly can” in an Aug. 29 e-mail obtained by Bloomberg News on Friday. Showing positive cash flow this quarter will make it easier for Tesla Motors Inc. to raise funds in the year’s final three months to complete the new Model 3 vehicle and its so-called gigafactory that makes batteries.