Tesla's limited edition $ 1,000 surfboards appear on eBay for $ 5,000.

<pre><pre>Tesla's limited edition $ 1,000 surfboards appear on eBay for $ 5,000.

Tesla announced its financial situation at the close of the first quarter of 2018 in a written statement published before a call for results on Wednesday, May 2.

The firm reported a record loss of $ 709.6 million (£ 522m), or $ 4.19 (£ 3) per share, for the first quarter ended March 31, compared to a loss of $ 330.3 million (£ 243m) or $ 2.04 (£ 1.50) for sharing, one year before.

Excluding items, Tesla had a loss of $ 3.35 (£ 2.45) per share. Analysts expected a loss of $ 3.58 (£ 2.63) per share.

The company said it ended the quarter with $ 3.2 billion (£ 2.3bn) in cash after spending $ 655.7 million (£ 483m) in quarterly capital expenditures.

Tesla's capital expenditures decreased in the first quarter of this year and the company reduced its spending forecasts for 2018, saying it would spend less than $ 3 billion (£ 2.21bn). Tesla spent $ 3.4 billion in 2017.

Free cash flow, a key measure of financial health, was extended to $ 1 billion negative (£ 740m negative) in the first quarter of $ 277 million negative (£ 204m negative) in the fourth quarter of 2017, excluding the costs of the systems for your solar business.

Despite the news, the markets were quite insensitive to the Nasdaq stock exchange closing that day, with the total market capitalization of Tesla – its total value shared multiplied by the shares held – amounting to $ 51.3 billion (£ 37.7bn).

However, the harsh treatment perceived by CEO Elon Musk of financial analysts in the teleconference eliminated $ 2 billion (£ 1.47bn) from the electric vehicle company's shares overnight, after the session closed that day.

The financial markets reacted sharply to the exchange with a collapse in the shares of companies, which fell 7.9 percent at its lowest point to $ 277.49 (£ 205).

The total withdrawn from the company's market valuation at this time on Thursday, May 3 was $ 3.7bn (£ 2.750bn).

Prices have recovered slightly as a result of this, and Musk is confident that this upward trend will continue.

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