Tesla Inc. launched a $5 billion capital raise on Tuesday, the second move in three months as the electric-car maker cashes on its stock surge this year, according to Reuters. The company said the share sale aimed to ease future debt pressure as it seeks to expand production of its existing vehicles and build new factories near Berlin, Germany, and Austin, Texas.
- Tesla plans to launch new lines of vehicles, including a semi-truck called the Tesla Semi and futuristic Cybertruck
- Tesla’s shares hit a record high on Monday, pushing its market capitalization above $600 billion, and cementing its position as the world’s most valuable auto company.
- Tesla’s stock got a boost when the S&P Dow Jones Index said in November that it would be added to the S&P 500 Index.
- Many investors believe Tesla’s stock is overvalued, and some have warned against adding it to the S&P 500 at current levels.
Tesla stock is currently declining. TSLA: NASDAQ is down 1.91% on premarket.
