Feb 10
2016
Another Mayday! for SolarCity
I wrote a post back in October about SolarCity’s mounting losses and falling stock price that carried the headline “SolarCity: Mayday! Mayday!” My post was prompted by a record loss in the third quarter that sent the company’s stock price down to $38 a share. SolarCity yesterday reported another huge loss for the fourth quarter that resulted in a year-end loss totaling $710 million. As in almost three-quarters of a billion dollars. The stock market responded by dumping SolarCity shares, dropping the price to $26.35 at the close of trading Tuesday. Things went from bad to worse overnight Tuesday and[...]