Coronavirus Epidemic Can Foil Tesla's China Expansion, Crypto Coins News
Tesla recently opened its Shanghai factory to start production in China but the coronavirus outbreak can hamper its plans.
Tesla could face difficulty fulfilling its obligations to Chinese government and banks.
The spread of coronavirus in China has major implications for Tesla.
Tesla’s (NASDAQ: TSLA) stock has been on a parabolic rise, appreciating close to (% from its) – week low.
Despite no significant fundamental developments, the rally saw Tesla’s market cap cross the $ 500 billion mark – a milestone that can yield CEO Elon Musk a billion-dollar pay package . With all eyes on Tesla’s upcoming earnings call , another development should be on investors ’radar. That’s the rapid outbreak of coronavirus in China.
Coronavirus Is Spreading Fast in China
The only thing more parabolic that Tesla’s stock is the rising coronavirus cases in China. As I opined in one of my previous articles , there’s a good chance the Chinese government is understating the severity of the coronavirus outbreak.