Wednesday, May 7, 2014

A Down Day For Elon Musk (TSLA; SCTY)

In today's action SolarCity was down 9.05% or $4.75.
Tesla was down $5.93 (2.86%).
With 20.8 million shares of the former and 33.1 million shares/options of the latter, that negative $295 million is one of the bigger one-day declines in net worth you're likely to see today.

SCTY -98.8mm
TSLA  -196.28mm

Tesla just reported and is off another $9.41 at $191.94, offset by an afterhours recovery of $3.13 after SolarCity reported, for a combined quarter-billion more to the downside.
Not to worry for Elon, he has around $7.7 Bil. in those two positions.

More to come.
From the company:
Tesla Releases First Quarter 2014 Financial Results