Tesla has had a hard time dealing with the aftermath of recent mishaps involving self-driving vehicles, which even included a fatal crash of its own Model X electric vehicle. The series of events has resulted in the decrease in confidence toward the new technology, which has become apparent in the rapid fall of stock prices of different technological firms, including Tesla. The company’s chief executive officer, Elon Musk, made light of the situation by posting a rather shocking tweet. Musk declared on social media that Telsa was going bankrupt and that despite its last-ditch effort of selling massive amounts of Easter Eggs, they apparently were not able to raise enough money to save the company.
Given the volatility of the company’s current situation, some stockholders quickly replied to the post to express their dismay. According to The New York Times, Musk previously teased on social media that he was going to be announcing some “important news,” but no one really expected that the announcement would actually be an April Fools’ joke. Fortunately, Musk posted several follow-up tweets that had a more lighthearted tone. One post even included a photo of Musk pretending to be unconscious lying on the ground beside a Tesla Model 3 vehicle while holding up a cardboard sign that had the word “Bankwupt” written on it.
Tesla Goes Bankrupt— Elon Musk (@elonmusk) April 1, 2018
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.
Last month, Tesla stock prices fell by a massive 22 percent with each share losing nearly a quarter of their value since March 12. The company has been experiencing a steady decline since it went public in December 2010. As reported by Bloomberg, Tesla’s credit rating has also recently been cut, forcing it to try to raise at least $2 billion. The company has also been put under a lot of pressure after it had failed to deliver vehicles to customers who had pre-ordered its long-promised Tesla Model 3 fully-electric sedans.
Elon was found passed out against a Tesla Model 3, surrounded by "Teslaquilla" bottles, the tracks of dried tears still visible on his cheeks.— Elon Musk (@elonmusk) April 1, 2018
This is not a forward-looking statement, because, obviously, what's the point?
Happy New Month! pic.twitter.com/YcouvFz6Y1
The series of accidents that occurred last month also didn’t help Tesla’s situation. A driver of a Model X sports utility vehicle was recently involved in a fatal car crash after he hit a concrete barrier. The vehicle’s Autopilot system was reportedly turned on, which should have technically prevented the crash from happening. After a thorough investigation, Tesla released a statement and revealed that the driver may have neglected to respond to the vehicle’s visual and audible warnings prior to the crash.