Not a great week for Elon Musk so far; also see SpaceX suffers serious setback with crew capsule accident | AP; for more details on yesterday's Tesla event, see Tesla Bets Farm On Neural Network Based Autonomy With Impressive Presentation | Forbes
"Mr. Musk’s lofty prognostications about self-driving cars and the new business of robo-taxis came as investors are bracing for troubling news from the electric carmaker. On Wednesday, Tesla is expected to report a loss for the first quarter amid slumping sales. The company previously said it delivered 63,000 cars in the quarter, down 31 percent from the fourth quarter, despite beginning sales of its Model 3 sedan in Europe and China.Elon Musk Predicts Tesla Driverless Taxi Fleet Next Year | NYT
Wall Street analysts are also concerned that Tesla does not have enough cash on hand. It ended 2018 with $3.7 billion, but used nearly $1 billion for a payment to bondholders in March. It recently said its cash reserve was “sufficient.”
Tesla stock closed down nearly 4 percent on Monday, suggesting that many investors were skeptical about Mr. Musk’s predictions about self-driving cars."