Tesla is sliding ahead of its annual meeting

Markets Insider


Shares of Tesla slid as much as 2.5% Tuesday as investors arrive for the electric-car maker’s annual meeting in California, which kicks off after markets close.

The stock has had a rough start to 2018, down 7%, as worries of the company’s need for cash swirl around Wall Street. That cash burn, alongside concerns about the company’s ongoing struggle to meet its own Model 3 production goals, are sure to be at the top of shareholders’ minds.

Among the proposals to be considered by investors will be the re-election of three Tesla board members, including CEO Elon Musk’s brother, Kimball, who have seen opposition in recent months.

Tesla’s slide, down 10% since the beginning of the year, is sure to be music to the ears of short-sellers, who currently have more than $US11 billion riding against the stock, according to data compiled by financial-analytics provider S3 Partners.

Here are some of the major stories Tesla investors are likely to be discussing when the meeting kicks off at 5:30 pm Pacific Time.You can stream the full event here.

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