Jan 29, 2019

Tesla stock has 4 weeks to rally before a big bond is due

A Tesla factory in California. Photo: Mason Trinca for The Washington Post via Getty Images

Tesla has a $920 million debt coming due March 1 from bonds issued in 2014, which can be paid if the electric automaker uses a mix of cash and stock — but that would require Tesla shares to jump about 21% from their current level, Bloomberg reports.

The big picture: Tesla's stock is known for wild fluctuations — Saudi Arabia hedged its significant stake this week — so Bloomberg notes that it's conceivable that it could hit the 21% milestone over the short time frame. And CEO Elon Musk is set to report the company's fourth-quarter warnings on Wednesday, which could be the spark it needs.

Editor's Note: This story has been corrected to note that $920 million is due. The original story said $920 billion. Axios regrets the error.

Go deeper

Axios

Coronavirus cases rise, as more Americans on cruise confirmed ill

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

A U.S. public health official confirms more than 40 Americans on the Diamond Princess cruise ship off Japan have coronavirus, while the remaining U.S. citizens without symptoms are being evacuated.

The big picture: COVID-19 has now killed at least 1,770 people and infected almost 70,000 others. Most cases and all but five of the deaths have occurred in mainland China. Taiwan confirmed its first death on Sunday, per multiple reports, in a 61-year-old man with underlying health conditions. Health officials were investigating how he became ill.

Go deeperUpdated 2 hours ago - Health

Sara Fischer, Jonathan Swan

Scoop: Inside the Trump campaign's big hedge on Facebook

Illustration: Eniola Odetunde/Axios

The Trump campaign has invested most of its advertising budget to date on Facebook, testing thousands of versions of ads per day to maximize its spending.

But behind the scenes, a source familiar with the campaign tells Axios, the thinking has shifted: "As everyone can see, we still have strong spending on Facebook, but the percentage of our total media budget [on Facebook] is shrinking."

Go deeper4 hours ago - Politics & Policy

Alayna Treene

Trump's revenge tour has the House in its sights

Illustration: Aïda Amer/Axios. Photo: Saul Loeb/Getty Contributor

In the lead-up to the 2018 midterm elections — buoyed by Republican control of both chambers — President Trump viewed campaigning for the House as a lower-tier priority and instead poured his energy into rallying for the Senate.

But after the GOP reckoning in 2018, and experiencing firsthand how damaging a Democratic-led House has been to him, Trump is now personally invested in helping Republicans regain the majority in November, several people familiar with his thinking tell Axios.

Go deeper4 hours ago - Politics & Policy