11:51 AM · 1 September 2020

🚗Tesla announces $5 billion stock offering 💲

Tesla (TSLA.US) announced that it will seek up to $5 billion in an additional stock offering. New shares will be offered "at the market" meaning that shares will be sold at current market price. New shares will be sold from time to time by Morgan Stanley, Deutsche Bank and Credit Suisse based on Tesla's instructions. News caused Tesla shares to trim gains in pre-market trade. However, the stock is still trading above yesterday's close in early trade.

Tesla (TSLA.US) surged to a fresh all-time high yesterday as investors were encouraged by the post-split price. Source: xStation5

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