Thursday, March 16, 2017

Musk Goes Back to Wall Street to Bring the Model 3 to Market - Bloomberg

On a related note, see Cities Shop for $10 Billion of Electric Cars to Defy Trump (Bloomberg)

"After burning through cash in late 2016 and warning Wall Street that the company was “close to the edge,” Tesla announced Wednesday that it would sell new stock and convertible securities while preparing for volume production and deliveries of its first mass-market car later this year.

News of a big stock sale typically depresses a company’s share price because it dilutes the value of investors’ holdings. But this is Musk, whose vertically integrated clean-energy company has captured imaginations on and off Wall Street even as the Palo Alto, California-based company has struggled to be profitable. Instead of falling, Tesla stock rose in late trading."
Musk Goes Back to Wall Street to Bring the Model 3 to Market - Bloomberg
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