PALO ALTO, Calif. (AP) — Tesla priced its second offering of stock at $767 apiece Friday.
An announcement Thursday that Tesla would put an additional $2 billion worth of stock on the market surprised almost everyone.
Just two weeks ago, CEO Elon Musk said the company had enough cash to fund its capital programs and that it didn't need to raise any more money.
But Tesla is taking advantage of seemingly insatiable demand for its stock. Tesla shares have almost doubled since the start of the year, and it's quadrupled since June.
That demand continued to surge Thursday, even though issuing additional company shares can dilute the value of those already on the market. Shares closed up another 5%.
With a couple of hours before the opening bell, shares of Tesla Inc. are essentially flat in light trading.
Before you consider Tesla, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tesla wasn't on the list.
While Tesla currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
