Tesla Will Sell on the Market Additional Shares for 5 Billion Dollars
OREANDA-NEWS. American electric car maker Tesla will increase the number of shares that are traded on the stock exchange. Additional shares’ total value is 5 billion US dollars. This follows from the company’s documents sent to the US Securities and Exchange Commission.
Tesla stock is one of the fastest growing assets in 2020. Since January, quotes have risen by more than 400 %, making the company the world’s most valuable automaker, ahead of such concerns as Japanese Toyota Motor and German Volkswagen.
In August, Tesla carried out a stock split to make its shares more accessible to a wide range of investors. If before the split one share was worth about 2200 dollars, then after the split its price fell to 400 dollars. During the first day of trading after the split, the stock price grew by 12.6 %. Tesla’s capitalization reached 464.34 billion dollars.
According to Refinitiv, 739.77 million Tesla shares, or 79.3% of their total, are currently traded on the market.