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California - Tesla has faced a series of controversial crashes involving its Autopilot-fitted electric cars as well as losing billions in stock value in 2018.
March has been tough for Tesla, with shares falling on all but five days and the company losing its position to General Motors as the most valuable US automaker.
Tesla CEO Elon Musk has poked fun at naysayers with an April fools joke posted on Twitter stating that his company is going bankrupt.
'Dried tears still visible on his cheek'Musk tweeted that the company 'has gone completely and totally bankrupt' and that "he was found surrounded by 'Teslaquilla' bottles, the tracks of dried tears still visible on his cheeks".
Musk tweeted: "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."