According to Forbes, “The company’s stock price has been dropping fast this month, from $350 a share at the end of February to $279 yesterday, with a downgrade after trading hours from Moody’s and the announcement of a federal probe into a recent fatal crash in a Model X likely to keep the pressure on today.”

Related: China Holds the Key to Electric Vehicles Tesla

Elon Musk Disagrees

Tesla co-founder Elon Musk believes otherwise.

“2018 will be a transformative year for Tesla, with a high level of operational scaling,” Musk said in a statement. “As we ramp production of both Model 3 and our energy products while keeping tight control of operating expenses, our quarterly operating income should turn sustainably positive at some point in 2018.”

For more information on current affairs, visit our current affairs category.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.