Oops. Looks Like Elon Musk Isn't Broke After All ;-)

Tesla Motors shares surge in 1st day of trading, Business Week

"Shares of Tesla Motors Inc. surged in their first day of trading on Tuesday, gaining more than 20 percent after the company raised more than expected in its initial public offering of stock. Investors snapped up shares of the electric car maker even as the broader markets took a beating. Tesla shares were up $4.10, or 24 percent, to $21.10 in afternoon trading after hitting a high of $21.50 earlier in the session. Tesla's performance was a feat in a sour market that has forced many companies looking to raise funds through IPOs to accept lower prices to get deals done. The IPO came on a day when U.S. stocks fell more than 2 percent -- following Asian and European markets lower -- on worries that the economy is slowing. The offering appealed to investors, raising $226.1 million after selling 13.3 million shares for $17 apiece. It had earlier expected to price 11.1 million shares at $14 to $16 per share.

  • submit to reddit


Humans to Mars Summit 2019
The Robert H. Goddard Memorial Symposium
Aster Labs - CubeSats

Join our mailing list

Commercialization: Monthly Archives

Monthly Archives

About this Entry

This page contains a single entry by Keith Cowing published on June 29, 2010 4:17 PM.

Facebook Resource for Huntsville Folks was the previous entry in this blog.

Congress on CxP: Lots of Talk But No Real Action is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.