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Tesla could drop to $180: Garnry
Tesla has updated its guidance for raising capital, and now states
that the company needs to raise either additional equity or debt by the end of 2016. This is due to the merger with SolarCity which shows a combined negative free cash flow within the last 12 months of more than $2.5bn.
According to Saxo Bank's head of equity strategy Peter Garnry this is a game changer and his outlook for Tesla is negative. He says that the stock could drop to $180.
01:45 minutes
Tags: merger, peter garnry, saxobank.com, saxotradergo, solarcity, tesla, tesla capital, tesla motors, tesla share price, tesla shares, tradingfloor.com
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