Tesla and SolarCity face selloff after lower than expected quarterly numbers

Elon Musk

Tesla, the electric car maker, and solar panel installer SolarCity have put up a bad performance in the stock market during the past six months. During the recent earnings call of Tesla Motors, Elon Musk announced that the company is aiming to increase its capacity over the next five years to meet the higher consumer demand for its electric vehicles.

Both the companies to which Elon Musk is connected to, are lagging in the recent financials. These companies for years were very popular among investors, but now are raising several questions in their minds.

Poor performance of stocks of both the companies indicates how hard the situation is for both the companies to beat their competition in their respective segments.

Shares of SolarCity went down $2.8, or 5%, to $54.1 in afterhours trading. This change in the figures came soon after the company on Wednesday reported poor quarterly numbers.

Shares of Tesla Motors have witnessed a decline of 21% over the past six months.


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