Elon Musk Opens up On Tesla Inc (TSLA) Rough Patch

Tesla Inc (NASDAQ:TSLA) has been besieged by a countless number of doom and gloom stories in recent years, but it looks like some from earlier this year really weren’t that far off the mark.

Fox Business shares some insight from an interview that Elon Musk had with “Axios on HBO.”

Tesla’s chief executive said the electric-car company was “within single-digit weeks” of dying.

Musk said Tesla was “bleeding money like crazy” during its Model 3 production ramp-up and almost went under, according to MarketWatch.

“Essentially, the company was bleeding money like crazy, and if we didn’t solve these problems in a very short period of time, we would die,” Musk explained during the interview. “And it was extremely difficult to solve them.”

Tesla Inc shares rose $4.12 (+1.26%) in premarket trading Monday. Year-to-date, TSLA has gained 4.65%, versus a -0.06% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #2 of 25 stocks in the Auto & Vehicle Manufacturers category.

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