The Traderszone Network

Published in TZ Latest News 5 August, 2015 by The TZ Newswire Staff

Tesla stock falls on wider loss, CEO comments on cash need

Shares of Tesla Motors Inc (TSLA.O) fell about 6 percent on Wednesday after the electric car maker posted a wider quarterly loss and said it may raise more cash to offset heavy spending on expanded production. A recently negotiated credit line can be extended from $500 million to $750 million and should be enough to cover planned investments in California and Nevada factories, Chief Financial Officer Deepak Ahuja told analysts on a conference call. Musk’s previous estimate was the end of this year.