From Investor's Business Daily:
It's been a rough few days for Elon Musk. Weak earnings guidance from Tesla Motors (TSLA) and SolarCity (SCTY) have cost him $1.47 billion on paper since those stocks started selling off late Tuesday.
Musk owned 27.3% of Tesla's stock as of June 30, according to an SEC filing, or roughly 32.27 million shares. At the close of trading Tuesday, the Tesla CEO's holdings were worth $5.7 billion.
But with shares falling from 176.81 Tuesday to 139.87 on the stock market Thursday, his stake in the electric-car maker is now valued at $4.5 billion, signifying a $1.2 billion loss.
Late Tuesday, Tesla reported Q3 EPS of 12 cents vs. a 92-cent loss a year earlier, topping analysts' estimates by a penny. Sales jumped over 1,000% to $602.6 million, also topping views for $535 million.
But the company said Q4 EPS will be "about consistent" with Q3, implying 12 cents rather than the 20 cents expected, sending shares plunging 13% after hours.
Then on Wednesday, a Tesla Model S caught fire in Tennessee after being struck with debris from the road. It was the third fire report in six weeks. That news hit the stock on Thursday.
Musk owns 21 million shares in SolarCity, which puts together solar energy systems and installs them in homes, businesses and schools, according to an October SEC filing.
His stake was worth $1.32 billion on Tuesday, the day before the company reported less-than-stellar guidance that sent shares tumbling.
Now his holdings are worth $1.04 billion, representing a $275 million loss....MORE
