The Coronavirus Pandemic Could Be a Perfect Storm for Tesla
Tesla (NASDAQ: TSLA) has long been a battleground stock, but the battleground has suddenly tilted against it.
Bears and short-sellers have long whooped over the electric-car maker's demise, but with the coronavirus pandemic spreading around the world, what was once a seemingly schadenfreude-driven fantasy now increasing looks like a stark reality.
Even as Tesla stock has already plunged more than 53% since the coronavirus crash began around Feb. 20, it could still have a lot further to fall. This is a company that lost money over the last year on a GAAP basis and was only modestly profitable on an adjusted basis. Even after the recent sell-off, Tesla is still valued at $80 billion, more than double what it was worth less than a year ago.
Source Fool.com
