“SolarCity revealed in a recent SEC filling that the company expects SpaceX, Elon Musk’s rocket company, to buy $75 million in “SolarBonds”. Earlier this year, SpaceX already purchased $90 million in solar-backed bonds from SolarCity, just 2 months after the aerospace company landed a $1 billion equity deal with Google and Fidelity. If this second […]
An unmanned SpaceX Falcon 9 rocket bound for the International Space Station exploded a couple of minutes after liftoff Sunday morning. It was the third cargo mission to the space station to be lost in recent months. Read More
“The largest solar installer in the U.S., SolarCity, saw its stock drop about 20% in after hours trading, following a larger than expected loss for its third quarter financial results, and news that the company will start focusing on cost cutting and slower growth next year.” Read More
SpaceX has failed to land its Falcon 9 rocket on an autonomous drone ship in the Pacific Ocean after launching the vehicle into space. The company originally said that the rocket came in too hard, but after further review of the data, SpaceX concluded that one of the rocket’s legs failed to lock, causing the […]
“For the entire year Tesla lost a total of $889 million, more than tripling its 2014 losses of $294 million, reports The Wall Street Journal….Tesla has been hemorrhaging roughly $400 million a quarter for over a year trying to meet deadlines and expectations for the Model X SUV released last fall.” Read More
“Questions about growth in the market generally have gone up in 2016 and that has combined with Musk missing his own growth targets at SolarCity and Tesla Motors to hurt the stocks. The benefit of the doubt that Musk used to build his wealth has begun to evaporate.” Read More
“Shares of SolarCity SCTY -5.92% , the nation’s largest solar panel installer, tanked by over 35% after New York trading hours yesterday, following a weak earnings report of missed forecasts and downward adjustments on future sales.” Read More
The Center for Business and Responsible Government (CBRG) is a non-partisan organization dedicated to highlighting cronyism and its effect on American taxpayers and policy. We believe public officials should establish an even playing field for all businesses to compete in the marketplace, not just those special interests who line their pockets.