Tesla CEO says stock-market value has dropped 100M USD because of NYT story

Tesla Motors CEO Elon Musk blames The New York Times for a stock-market value drop of 100M USD.

In an interview given to Bloomberg Television this week, Musk said "it probably affected us to the tune of tens of millions, to the order of 100M USD." Since February 8 when NYT published the article, Tesla's shares have dropped by 12 percent from 39.24 USD to 34.38 USD.

Elon Musk added that without a 7,500 USD tax credit, Model S demand would go down by 10-20 percent. The American EV maker says the Model S will become profitable by the end of this quarter, excluding some costs. This year they plan on increasing production by a minimum of 25 percent.

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Automaker Tesla Motors
Article type Electric Vehicle
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