Corcaigh Posted June 29, 2010 Share Posted June 29, 2010 o Tesla Motors Raises $226.1 Million in IPO, Stock Rises Palo Alto, Calif. -- Despite an overall down day on the stock market, shares of Tesla Motors rose more than 8% by midday Tuesday after the Silicon Valley-based builder of high-performance electric cars raised $226.1 million in its initial public offering (IPO). The company, which earlier this year was boosted by a $465 million long-term loan from the Department of Energy, priced 13.3 million shares at $17 each -- above its expected price range of $14-$16. The company on Tuesday was expected to begin trading on the Nasdaq under the symbol "TSLA." Founded in 2003, Tesla last year began selling its first model, the "Roadster," for just over $100,000. The car is capable of reaching 60 miles per hour in 3.8 seconds, with a range of 244 miles on a full battery charge. In the next two years, however, the company plans to roll out its newest model, called the Model S, which it says will be capable of going 300 miles on a charge. http://www.teslamotors.com/ http://www.sec.gov/Archives/edgar/data/1318605/000119312510149105/d424b4.htm Link to comment Share on other sites More sharing options...
Titaw Posted June 29, 2010 Share Posted June 29, 2010 I needs to get me some of this stock and QUICKLY! These guys are the new apple! Link to comment Share on other sites More sharing options...
Destino Posted June 29, 2010 Share Posted June 29, 2010 I can't imagine even considering this stock outside of a day trade move. They have lost money every year in operation and have move a total of less than 2000 cars ever IRRC. Their hopes are pinned on an expensive sedan and potential work with Toyota.... none of which is expected to even potentially turn a profit for two years. I think this stock will fall far between now and the coming years. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted June 29, 2010 Share Posted June 29, 2010 180 day lock-up period. Maybe next year. Link to comment Share on other sites More sharing options...
PokerPacker Posted June 29, 2010 Share Posted June 29, 2010 I can't imagine even considering this stock outside of a day trade move. They have lost money every year in operation and have move a total of less than 2000 cars ever IRRC. Their hopes are pinned on an expensive sedan and potential work with Toyota.... none of which is expected to even potentially turn a profit for two years. I think this stock will fall far between now and the coming years. considering the Model S is less than half the price of the Roadster and that they're starting to gain some recognition tells me they may start turning things around soon. I must say, that Model S looks like one nice car. 300 miles to the charge. A cost of about $4 to fully charge, which only takes 45 minutes to accomplish. 17" touchscreen with 3G access to use google maps or listen to Pandora. This car is gonna start turning heads and I think it will actually sell. Link to comment Share on other sites More sharing options...
Stew Posted June 29, 2010 Share Posted June 29, 2010 considering the Model S is less than half the price of the Roadster and that they're starting to gain some recognition tells me they may start turning things around soon.I must say, that Model S looks like one nice car. 300 miles to the charge. A cost of about $4 to fully charge, which only takes 45 minutes to accomplish. 17" touchscreen with 3G access to use google maps or listen to Pandora. This car is gonna start turning heads and I think it will actually sell. Yeah, I want one badly. Link to comment Share on other sites More sharing options...
Ellis Posted June 29, 2010 Share Posted June 29, 2010 I've watched this car company for years. I love the look and the concept. But it's expensive. A lot of celebrities in Cali have bought the car and they've tried to push the car to the public. But the price isn't right just yet. I do believe this company has a bright future ahead for them as the younger generations abandon traditional, crude oil vehicles. Link to comment Share on other sites More sharing options...
Metalhead Posted June 29, 2010 Share Posted June 29, 2010 I'm looking forward to watching this company develop and grow. I may buy a little stock for the heck of it. I mean, I've wasted more money of video games and soda. Who knows, they could be a force in 10 years. Link to comment Share on other sites More sharing options...
Stew Posted June 29, 2010 Share Posted June 29, 2010 Model S is going for about 50K. Im seriously condiering it when i finish paying off my present car. I do a lot of driving. Link to comment Share on other sites More sharing options...
redskins59 Posted June 30, 2010 Share Posted June 30, 2010 The CEO is just trying to finance his divorce. Major companies like GM are also developing electric cars. The question is, how are they gonna compete? I don't think Tesla would even make a good acquisition target. They'll go bankrupt in a few years. Link to comment Share on other sites More sharing options...
Corcaigh Posted June 30, 2010 Author Share Posted June 30, 2010 This looks just like a tech IPO from 1999. All we need is their CEO talking about "first mover advantage". Unlike a software company (which has very low production costs), these folks have to deliver an expensive and complex piece of hardware at a profit. So far there's no evidence they know how to do that. Link to comment Share on other sites More sharing options...
chipwhich Posted June 30, 2010 Share Posted June 30, 2010 The CEO is just trying to finance his divorce. Ding ding ding...we have a winner! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.