Capital needed: Musk's need for speed in getting the Model 3 in the hands of approximately 373,000 reservation holders means he "has to ramp up faster than any other automaker would want to do, said Tracy.
SAN FRANCISCO: Tesla Inc chief Elon Musk has taken big risks repeatedly since going public in 2010, but investors were spooked on Thursday after he said the electric car company could get "close to the edge" as it burns cash ahead of its crucial Model 3 launch.
Facing yet another cash crunch, Tesla will likely be forced to head to Wall Street for more capital, analysts said. Shares tumbled 5.8% on Thursday, their biggest intraday percentage fall in eight months.
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