, Columnist
What Does $3 Billion Even Buy Tesla These Days?
It would take a very large capital raise to help liquidity.
Elon Musk, chairman and chief executive officer of Tesla Motors Inc.
Photograph: David Paul Morris/Bloomberg
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Tesla Inc. says it doesn’t need to raise more money. But a new report from a usually supportive quarter suggests it not only should, but really, really should.
Adam Jonas, a Morgan Stanley analyst who typically rates Tesla stock with gusto, just slashed his target price 23 percent to $291 —curiously, within a buck of where it closed the night before. The stock duly dropped about 3 percent on Tuesday.