Elon Musk “Jokes” That Tesla Has Filed For Bankruptcy

Elon Musk “Jokes” That Tesla Has Filed For Bankruptcy:

In what we assume is a morbid April Fool’s joke, late on Sunday Elon Musk decided to have some “fun” with his 20 million Twitter followers and unknown number of investors, and after previewing earlier in the day that he will have “Important news in a few hours …”, the Tesla CEO tweeted that “Tesla Goes Bankrupt Palo Alto, California, April 1, 2018 — Despite intense efforts to raise money, including a last-ditch mass sale of Easter Eggs, we are sad to report that Tesla has gone completely and totally bankrupt. So bankrupt, you can’t believe it.”

There was more “humor” – in a subsequent tweet, Musk tweeted that “There are many chapters of bankruptcy and, as critics so rightly pointed out, Tesla has them *all*, including Chapter 14 and a half (the worst one).”

Musk concluded joking that after the bankruptcy, he “was found passed out against a Tesla Model 3, surrounded by “Teslaquilla” bottles, the tracks of dried tears still visible on his cheeks. This is not a forward-looking statement, because, obviously, what’s the point? Happy New Month!”…

… a clear explanation that this is all in the April 1 realm of fiction… for now.

And while to Musk it may all be a joke, to Tesla bondholders (and recently shareholders: TSLA stock plunged 22% in March, its biggest drop since December 2010) it is anything but, because as we showed last week, the price on Tesla’s 2025 bonds tumbled after a downgrade by Moody’s deep into junk territory, warning the company may have to raise another $2 billion…

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