Elon Musk just lost $3.5B on a double whammy, It's been an animal banal bazaar for a lot of investors. But acclaimed artist and broker Elon Musk is accepting an awfully bad year - not just on one investment - but on two.
Musk's backing in electric car maker Tesla (TSLA) and solar console installer SolarCity (SCTY) are down a amazing $3.5 billion back the end of endure year on Dec. 31, 2015. Musk is the better individual buyer of both companies, which calm accept handed all investors absolute bazaar amount losses of $15.7 billion this year.
Musk got some abatement Wednesday. Tesla shares jumped 10% in aboriginal afterhours trading, afterwards it gave fourth division after-effects and said it will about-face a accumulation this year. But the accident is already done - even if the 10% accretion sticks, Musk's accident on the two stocks this year would be $3 billion.
Both of Musk's firms accept absent favor with investors this year, as the bazaar punishes companies that are attenuate on accumulation but top on valuation. Falling oil prices accept aswell taken out the coercion and activity over another activity plays.
Musk is now down $682 actor in his shares of SolarCity this year. The banal plunged 29% Wednesday to $18.63 afterwards the aggregation that installs and leases solar panels told investors backward Tuesday it will acceptable lose up to $2.65 a allotment in the accepted quarter. That's added than the $2.49 a allotment accident investors were expecting, according to abstracts from S&P Global Bazaar Intelligence.
The abrogating angle absolutely overshadowed the actuality that during the fourth division the aggregation appear a better-than-expected annual accident of an adapted $2.37 a share. Shares of SolarCity were already down 48% this year - afore Wednesday's drop.
Next, all eyes are on Musk's big investment: Tesla.
Musk's massive $4.2 billion pale in Tesla makes his $404 actor position in SolarCity attending minor.
Shares of Tesla are down 40% this year through Wednesday's abutting - confined up a about $12 billion accident to investors - of which Musk has alone eaten $2.8 billion. Afterwards the bazaar bankrupt Wednesday, Tesla appear a annual accident of 87 cents a allotment on an adapted basis. Investors anticipation the aggregation would about-face a profit, abandoning four-straight annual losses, says S&P Global Bazaar Intelligence.
His stakes in SolarCity and Tesla are still admired at $4.6 billion. That doesn't even cover Musk's pale in amplitude flight avant-garde SpaceX, which is abreast held.
Perhaps Tesla's profits can about-face on the turbo after this year - as it said backward Wednesday it would - and draft abroad the abrogating broker sentiment. But so far, investors who accept gotten formed this year action on Musk - including Musk himself.
Musk's backing in electric car maker Tesla (TSLA) and solar console installer SolarCity (SCTY) are down a amazing $3.5 billion back the end of endure year on Dec. 31, 2015. Musk is the better individual buyer of both companies, which calm accept handed all investors absolute bazaar amount losses of $15.7 billion this year.
Musk got some abatement Wednesday. Tesla shares jumped 10% in aboriginal afterhours trading, afterwards it gave fourth division after-effects and said it will about-face a accumulation this year. But the accident is already done - even if the 10% accretion sticks, Musk's accident on the two stocks this year would be $3 billion.
Both of Musk's firms accept absent favor with investors this year, as the bazaar punishes companies that are attenuate on accumulation but top on valuation. Falling oil prices accept aswell taken out the coercion and activity over another activity plays.
Musk is now down $682 actor in his shares of SolarCity this year. The banal plunged 29% Wednesday to $18.63 afterwards the aggregation that installs and leases solar panels told investors backward Tuesday it will acceptable lose up to $2.65 a allotment in the accepted quarter. That's added than the $2.49 a allotment accident investors were expecting, according to abstracts from S&P Global Bazaar Intelligence.
The abrogating angle absolutely overshadowed the actuality that during the fourth division the aggregation appear a better-than-expected annual accident of an adapted $2.37 a share. Shares of SolarCity were already down 48% this year - afore Wednesday's drop.
Next, all eyes are on Musk's big investment: Tesla.
Musk's massive $4.2 billion pale in Tesla makes his $404 actor position in SolarCity attending minor.
Shares of Tesla are down 40% this year through Wednesday's abutting - confined up a about $12 billion accident to investors - of which Musk has alone eaten $2.8 billion. Afterwards the bazaar bankrupt Wednesday, Tesla appear a annual accident of 87 cents a allotment on an adapted basis. Investors anticipation the aggregation would about-face a profit, abandoning four-straight annual losses, says S&P Global Bazaar Intelligence.
His stakes in SolarCity and Tesla are still admired at $4.6 billion. That doesn't even cover Musk's pale in amplitude flight avant-garde SpaceX, which is abreast held.
Perhaps Tesla's profits can about-face on the turbo after this year - as it said backward Wednesday it would - and draft abroad the abrogating broker sentiment. But so far, investors who accept gotten formed this year action on Musk - including Musk himself.
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