Tesla IPO Raises $226 Million 274
An anonymous reader writes "Tesla, which will trade under TSLA on Nasdaq, has been priced at $17 per share, allowing the electric car start-up to raise more than $226 million in its IPO. Investors were expecting the share price target range to be between $14 and $16 but the overflow of excitement saw Tesla increase the number of shares it plans to offer to 13.3 million, nearly 20 percent more than originally planned." Reader hlovy contributes a link from Xconomy.com summarizing the skepticism among some analysts as to how much staying power TSLA will demonstrate.
Re:That Kramer guy... (Score:3, Informative)
AFAIK, they don't (can't?) "make" you hold the IPO stock.. If you sell within 30 days, however, you are likely not going to be allocated IPO shares again, at least for a while. Yes, I'm nitpicking the difference, but I do think it's significant, esp. if one is willing to risk missing future IPOs.
(I got some at $18, since my brokers weren't in the IPO.)
Re:Stock price already increased (Score:5, Informative)
Nope, they stopped making the Roadsters, all work now is on the S-Sedan and licensing their Drivetrain technology to Mercedes and Toyota.
Re:I'd say it's overpriced (Score:3, Informative)
Yeah, because that's why people buy Ferraris -- range.
The Roadster handily beats similarly priced Ferraris in acceleration. It's not the greatest sports car ever, but in terms of performance it's quite impressive.
I'm not going to buy one, but that's because I think a Mustang is too ostentatious for me. :P
Re:Only One Thing I Dislike About Tesla Motors... (Score:5, Informative)
Their cars run on DC motors (or at least get power from a DC source). Yet the company is named after a man who is acknowledged as the father of the alternating current (at least in the US).
Only the batteries are DC. The motor is AC and driven by an inverter in the car's Power Electronics Module. [howstuffworks.com]
Re:I'd say it's overpriced (Score:3, Informative)
As someone who just bought a used prius, I'd have to say that your insult is off base. At an AVERAGE of 48.5 mpg, this car doesn't suck. It is big enough for me an my wife, and enough space in the back to drag around groceries/skies/camping equipment/or mulch. As my drag racing days are behind me, what more do you/I need in a car?
Re:Only One Thing I Dislike About Tesla Motors... (Score:3, Informative)
Tesla had many accomplishments. While AC is an important one, so is radio communications, and the like. Some of his accomplishments are in the DC realm, at least due to having worked for Edison early in his career.
Re:IPO: It's Probably Overpriced, but... (Score:5, Informative)
Re:IPO: It's Probably Overpriced, but... (Score:3, Informative)
Because, when you go up to your rich friends and say 'check out my new BMW 5 series', they'll say, 'cool it's just like mine!'
Re:fail (Score:5, Informative)
That particular episode of Top Gear is (especially) derided as FUD. The car never ran out of batteries, they never recharged the car (just an off the cuff remark about it taking 16 hours to charge from their windmill(!?)), and the 'brake down' that they reported was a blown fuse (not a drive train one either, just a regular one like could and does happen in every car). The put the car into neutral and pushed it off the track to 'show what would happen if you ran out of charge', obviously you could say the exact same thing about running out of gas on the track.
To me, that really brought to light just how much the people at Top Gear are biased towards the cars that they like and against the cars that they don't.