Tuesday, June 29, 2010

Tesla IPO has investors giddy but auto experts wary - Jun. 29, 2010

Update on the TESLA IPO

Tesla IPO has investors giddy but auto experts wary - Jun. 29, 2010:
"Tesla, which will trade on Nasdaq under the symbol 'TSLA,' priced its shares late Monday at $17 each, above the target range of $14 to $16. That allowed Tesla to raise more than $226 million in the IPO."
and
"PayPal founder Elon Musk's seven-year old auto company lost $55.7 million last year and $260.7 million since its inception. The company has performed so poorly from a financial standpoint that Musk recently said he lost his entire personal fortune on Tesla. But investors are giddy about the Palo Alto, Calif.-based automaker's initial public offering, prompting Tesla on Monday to increase the number of shares it plans to offer by nearly a fifth to 13.3 million."

1 comment:

Michael said...

How do i short this stock. Guaranteed failure.