Tesla shares declined 5.5% on Tuesday after the company said Monday it reached its goal to produce 5,000 Model 3 cars during the last week of the June quarter, as the tide among several Wall Street firms drifts toward skepticism about the company.
Tesla Inc. has surpassed General Motors in market capitalization to become the most valuable publicly traded automaker as investor enthusiasm continues to ramp up for the company.
Tesla Inc. increased its vehicle deliveries 69% to just over 25,000 vehicles in the first quarter, a move that sent investors to drive Tesla shares sharply higher this week.
Tesla has sold $1.2 billion in common shares and convertible senior notes to support the roll-out of the Model 3, the Palo Alto company announced.
Clean Diesel Technologies (CDTi) reached an agreement to convert $8.5 million in debt into its common stock, the company revealed in financial results for the second quarter ending June 30.
Tesla’s shares took a hit after an analyst from Goldman Sachs pointed out the electric vehicle company needs $6 billion worth of capital for growth over the course of the next 11 years.