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Musk Reopens Door to Tesla Capital Raise After Cash Setback

  • Model 3 maker finished quarter with just $2.2 billion on hand
  • CEO sees ‘merit’ to raising money after quarterly loss
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Tigress CIO Says Tesla Should've Been More Conservative, Earnings Delay Isn't a Concern
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Elon Musk’s declarations that Tesla Inc. was done losing money and needing to raise more cash turned out to be premature.

The chief executive officer is reopening the door to seeking capital for the maker of the electric Model 3 sedan after posting a bigger-than-expected loss for the first quarter. A record drop in deliveries, combined with the company’s largest-ever debt payment, depleted cash to the lowest level in three years.