May 10
2016
Yet more bad news on SolarCity
I’ll dispense with the MayDay! declarations of past and get to the latest double-barrel dose of bad news regarding SolarCity. The company released its first quarter earnings report Monday afternoon and it was drenched with more red ink than usual. SolarCity lost a record $283.1 million. That was double the $149.9 million it lost for the same period in 2015. The stock market reacted as you’d expect, with the trading price dropping by 21 percent from the close of trading Monday to Tuesday. SolarCity is now going for $17.54 a share, down from $57.26 as recently as mid-December. Yet another crisis in[...]