Here's Why Tesla Was Down 12.5% in March
Shares of Tesla (NASDAQ: TSLA) fell 12.5% in March, according to data from S&P Global Market Intelligence, with the stock reacting to a whirlwind of company news including shifts in the way the electric vehicle manufacturer operates, a new model release, and ongoing uncertainty about the automaker's standing with regulators and its cash reserves.
The Tesla news cycle goes so fast, it's hard to pin a month's stock move on any one news item, and March seemed particularly busy for the electric car maker. Tesla began the month by paying a $920 million convertible bond obligation in cash, leading to investor questions about the health of its balance sheet and its cash reserves that were compounded on March 12, when the company conducted another round of layoffs.
Rendering of Tesla's forthcoming Model Y. Image source: Tesla.
Source Fool.com
