Tesla Debt Continues To Rise
- 6 years ago
The cost to insure debt holdings in electric carmaker Tesla Inc, whose chief executive has been accused of fraud by federal regulators, rose to its highest-ever level on Friday as the bond market reflected growing worries about a default. Reuters reports this comes the day after the U.S. Securities and Exchange Commission said it was suing Tesla Chief Executive Elon Musk and pushing for his ouster. The company’s shares were down 11.6 percent at $271.98 at midday on Friday.