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posted by martyb on Wednesday September 02 2020, @09:36AM   Printer-friendly
from the fear-of-missing-out? dept.

Tesla will cash in on surging stock price with $5 billion stock sale:

Tesla will sell up to $5 billion in new shares, the company announced in a Tuesday filing with the Securities and Exchange Commission. The company didn't give any specific timeline for completing the stock sale.

The announcement comes one day after Tesla completed a five-for-one stock split that sent Tesla's stock soaring. When Tesla announced the split on August 11, Tesla's stock was worth less than $1,400. Investors reacted enthusiastically, pushing the stock up 60 percent to over $2,200 over the following three weeks.

Since the split took effect on Monday, the stock has surged even higher and is now worth $480—$2,400 in pre-split terms.

The stock's high price means that Tesla can raise a lot of cash by issuing a comparatively small number of shares. Tesla announced its last fundraising round of $2 billion in February when the stock was worth less than $800—$160 in post-split terms. With the stock now at roughly triple that value, Tesla will likely be able to raise $5 billion while giving up a smaller share of the company to new shareholders.


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  • (Score: 0) by Anonymous Coward on Wednesday September 02 2020, @12:38PM (3 children)

    by Anonymous Coward on Wednesday September 02 2020, @12:38PM (#1045342)

    Honestly, they deserve it. I'm not sure why anybody would invest in that particular company. It's a miracle that they haven't already gone out of business due to their cars murdering people and the incompetence with which they've gone about building their factory.

  • (Score: 2) by JoeMerchant on Wednesday September 02 2020, @01:25PM (2 children)

    by JoeMerchant (3937) on Wednesday September 02 2020, @01:25PM (#1045355)

    a miracle that they haven't already gone out of business due to their cars murdering people and the incompetence with which they've gone about building their factory.

    It's not a miracle, just lucky timing. Has the U.S. ever had a more "business friendly" climate than the last 4 years?

    --
    🌻🌻 [google.com]
    • (Score: 0) by Anonymous Coward on Wednesday September 02 2020, @02:12PM (1 child)

      by Anonymous Coward on Wednesday September 02 2020, @02:12PM (#1045377)

      Yes, I would say under St. Ronnie. He didn't have to deal with state governors throwing the economies of their states into ruin to boost Mondale's chances.

      • (Score: 0) by Anonymous Coward on Thursday September 03 2020, @01:00AM

        by Anonymous Coward on Thursday September 03 2020, @01:00AM (#1045674)

        Yes, Reagan the Butcher did rape the American working class to give money to the rich parasite class with his signature voodoo economics. Amazing he found the time to destroy the American working class with his busy schedule of arming and financing right-wing death squads and illegal wars in Central America financed through selling crack cocaine domestically and laundered via Iran... because congress would not approve Reagan's illegal wars. And, something always missing from the far-right revisionist histories of this monster who liked to quote Hitler-- He financed a genocide of many hundreds of thousands of indigenous people in Guatemala (even the man who led the genocide on the ground stated that Reagan was at least as responsible as he was).

        One of that asshole's unsuccessful attempts to further impoverish poor Americans was an attempt to lower the minimum wage from $3.35/hr to $2.25/hr since the rich parasite ownership class was having such a hard time struggling to get by.

        Fuck Reagan. Definitely one of our presidents who would have been dangling by the neck from a rope if we were a nation of laws. A mass murderer.