Tesla faces bankruptcy in Elon Musk's April fools' joke

Elon Musk tweeted on Sunday that Tesla was going bankrupt in an April fools’ joke.

His comments followed a poor week in terms of the news-flow around Tesla, with the manufacturer's lack of profitability still a talking-point in markets, alongside a slump in its share price, partly as a result of a fatal accident involving one of the self-driving models which it had under development.

Tesla’s CEO tweeted on Sunday that, "Despite intense efforts to raise money, including a last-ditch mass sale of Easter Eggs, we are sad to report that Tesla has gone completely and totally bankrupt. So bankrupt, you can't believe it."

Tesla Goes Bankrupt
Palo Alto, California, April 1, 2018 -- Despite intense efforts to raise money, including a last-ditch mass sale of Easter Eggs, we are sad to report that Tesla has gone completely and totally bankrupt. So bankrupt, you can't believe it.

— Elon Musk (@elonmusk) 1 de abril de 2018

Hours later, Musk tweeted again and posted a photo of himself "passed out" against a Tesla Model 3 with a box that read "Bankwupt!", having drunk bottles of 'Teslaquilas'.

"Elon was found passed out against a Tesla Model 3, surrounded by 'Teslaquilla' bottles, the tracks of dried tears still visible on his cheeks," read the tweet.

Nevertheless, the carmaker's troubles as it struggled to ramp-up production of its Model 3 compact car had been widely reported on.

Moody’s Investors Service recently downgraded Tesla’s credit rating and said it would be facing losses by the end of the year.

Against that backdrop, the carmaker's shares fell 22% in March, their biggest one-month drop since December 2010.