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The drop in sales of Tesla is rapidly ruining the Mask | ubr.ua

The entrepreneur lost a lot on the collapse of Tesla stock

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American inventor and CEO of Tesla Elon Musk is dramatically poorer. For two minutes, lost $1.1 billion, than impressed the financial community and upset their investors. They are the estimated losses: at yesterday’s opening of trades in new York stock exchange, the shares of Tesla have fallen in price at once on 11%. Bloomberg immediately calculated that as a Mask for his “billionaires Index” decreased to $22.3 bn

The stock collapsed because of quarterly report for 2019: the company Tesla announced the drop in sales of electric cars from 91 thousand to 63 thousand cars. While investors were waiting for positive results after entering the European market. Prior to this, Tesla sold mainly in USA and Asia (China and Japan).

The American company tried to improve sales in March 2019, its managers announced plans to reduce the prices of inexpensive models Tesla by 6%, to raise the demand for them (at the same time raising the cost of luxury models at 3%). Simultaneously, the company reduced Mask costs — closed unprofitable showrooms and translated for sale in the Internet. But this has not helped to improve the financial results of the first quarter of 2019. Perhaps this will all play into the profitability in April-June.

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