TSLA like I have been saying the free fall is happening. They are already talking about slashing expenses. Tells me anyone that wanted a Tesla has one. Their sales are starting to Sh!t the bed. This company is just a debt machine!. I bet they need more cash soon and looking at sales I have a feeling access to cash is going to get harder and harder and be worse and worse for shareholders.
Tesla slumps 6% on report of 'hardcore' cost-cutting plan
May 17, 2019 2:17 PM ET|About: Tesla, Inc. (TSLA)|By: Carl Surran, SA News Editor
Tesla (TSLA -6.2%) tumbles to fresh two-year lows after reports CEO Elon Musk emailed employees to alert that he and CFO Zach Kirkhorn would scrutinize all expenses as part of "hardcore" cost cutting efforts.
Musk also said TSLA's $2.2B cash reserve "is a lot of money, but actually only gives us about 10 months at the first quarter burn rate to achieve breakeven," according to a report from Electrek.
Musk reportedly said that very small efficiency improvements, such as "better packing density or rearranging process flow to a fewer forklift moves," can have a great impact if everyone works on it.
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