Tesla to Sell Up to $5 Billion in Stock

Sam Hadla September 1, 2020 No Comments

Tesla Inc. said it planned to raise up to $5 billion through stock offerings from time to time as the electric-vehicle maker, which has enjoyed a surging share price, makes another investment push.

The return to capital markets comes after the stock split 5-for-1 on Monday, sending it up 13% to $498.32. The planned fundraising represents roughly 1.1% of Tesla’s $464 billion market capitalization, according to FactSet.