Tesla's (TSLA) Hot IPO Cruising Higher
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After surging 41 percent in its debut, yesterday's hot IPO for Tesla Motors (Nasdaq: TSLA) is up again today. Shares last traded at $25.19 in pre-open trading Wednesday, up 5.4 percent from yesterday's close.
Based on the current price, the market capitalization of the maker of the sexy electric cars is approximately $2.3 billion, based on the 93,109,393 shares that will be outstanding after the offering and the $50.0 million concurrent private placement with Toyota Motors (NYSE: TM).
Investors in Tesla are betting on the company's ability to change the landscape of car usage in the U.S., with its slick and fast electric cars. Could Tesla do for green vehicles what Henry Ford did for traditional cars?
The company is banking on its Model S, which will be the first step in bring the company more into the mainstream. The vehicle, slated to begin volume production in 2012, will have an initial target of 20,000 units produced.
The company's longer-term, more ambitions plan is to use the Model S's adaptable platform architecture and common electric powertrain to make additional electric vehicles, which may include a crossover/SUV.
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Based on the current price, the market capitalization of the maker of the sexy electric cars is approximately $2.3 billion, based on the 93,109,393 shares that will be outstanding after the offering and the $50.0 million concurrent private placement with Toyota Motors (NYSE: TM).
Investors in Tesla are betting on the company's ability to change the landscape of car usage in the U.S., with its slick and fast electric cars. Could Tesla do for green vehicles what Henry Ford did for traditional cars?
The company is banking on its Model S, which will be the first step in bring the company more into the mainstream. The vehicle, slated to begin volume production in 2012, will have an initial target of 20,000 units produced.
The company's longer-term, more ambitions plan is to use the Model S's adaptable platform architecture and common electric powertrain to make additional electric vehicles, which may include a crossover/SUV.
Market Moving News and Intelligence - Free Sign-Up
http://www.streetinsider.com/premium_content.php
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