Musk Says Tesla, SolarCity Need Not Raise Cash This Year
- Fundraising for Q4 2016, Q1 2017 wont be necessary, says Musk
- Tweet comes as Goldman, Morgan Stanley scrap buy rating
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Tesla Motors Inc. and SolarCity Corp. don’t need to raise cash this quarter as the two companies prepare for a merger, billionaire Elon Musk said.
Musk, Tesla’s chief executive officer, said in a tweet Sunday that he would “like to correct expectations that Tesla/SolarCity will need to raise equity or corp debt in Q4. Won’t be necessary for either.” In response to a tweet asking if the first quarter of 2017 was then likely, Musk replied, "Probably not then either.”