Elon Musk's hilarious April Fool's tweet silences speculation around Tesla's finances

WION Web Team Delhi, India Apr 02, 2018, 02.52 PM(IST)

Image was tweeted by Elon Musk. Photograph:( Twitter )

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Musk's April Fool's joke cracked up Twitter while putting to silence all speculations around Tesla's finances

SpaceX CEO Elon Musk's recent Twitter activity reinstated that space exploration and a desire to 'colonise' the Red Planet are not the only areas of his interest, Musk likes to indulge in a hearty scoop of humour every now and then. 

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In an impulsive streak of tweets, not only did Musk tested his humour-quotient but also silenced reports suggesting Tesla's shaky financial situation. 

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Musk's April Fool's joke cracked up Twitter while putting to silence all speculations around Tesla's finances. 

"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," read one of his tweets. 

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Tesla Inc shares fell more than 9 per cent last week following a downgrade by Moody's Investors Service, a probe by the National Transportation Safety Board of a recent fatal crash and concerns about Model 3 production.

The sell-off came after Tesla tumbled 8.2 per cent on last Tuesday, the lowest close in almost a year. Tesla was trading on Wednesday at $258.44, down $20.74 a share, off a low of $252.10.

Late on Tuesday, Moody’s Investors Service downgraded Tesla’s credit rating to B3 from B2. Moody’s said the ratings “reflect the significant shortfall in the production rate of the company’s Model 3 electric vehicle.” It also “faces liquidity pressures due to its large negative free cash flow and the pending maturities of convertible bonds.”

Moody’s said its negative outlook for Tesla “reflects the likelihood that Tesla will have to undertake a large, near-term capital raise in order to refund maturing obligations and avoid a liquidity shortfall.”

(With inputs from Reuters)