Tesla CEO says there's "no need" to raise cash.
Tesla CEO Elon Musk tweeted early Friday that the company will be profitable and cash-flow-positive in the third and fourth quarters of 2018.
"Tesla will be profitable & cash flow+ in Q3 & Q4," Musk tweeted, "so obv no need to raise money."
Musk was responding to an article in The Economist which claimed that Tesla would need to raise between $2.5 and 3 billion in 2018 in order to stay afloat.
The Economist used to be boring, but smart with a wicked dry wit. Now it's just boring (sigh). Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money.— Elon Musk (@elonmusk) April 13, 2018
The article referenced Musk's April Fool's bankruptcy joke, calling it "[...] uncomfortably close to the truth."