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Tesla Plans Stock Sale

Published by

December 5, 2024
(GMT+2)

Tesla Inc plans to raise as much as $5 billion through fresh sales of stock, capitalizing on the market tear that has sent its shares zooming this year.The Palo Alto, Calif-based electric vehicle company stated on Tuesday that it would sell the additional shares over time at market prices. The Company raised the same amount of money through a similar program it rolled out in September. Tesla’s share price is over nine times higher than it was a year ago after adjusting for a recent stock split, as the company has been able to improve its liquidity and keep its streak of profitable quarters going-now up to five-amid the coronavirus pandemic. Last month, S&P Dow Jones Indices said Tesla would be added to the S&P 500 index in December, fueling the stock’s mainstream appeal.

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