Analysts Say Tesla Stock Sale Is A Smart Move
- 3 years ago
Tesla's recently announced plan to sell up to $5 billion in shares.
Wedbush analyst Dan Ives said this is "the smart move at the right time" for CEO Elon Musk and the rest of the company.
On Tuesday, Tesla revealed it will offer shares "from time to time" with 10 banks serving as sales agents.
The announcement comes as Tesla stock sits 667% higher year-to-date.
The massive rally allows Tesla to "build up its treasure chest and capital-expenditure capabilities" while shares sit near record highs, Ives said.
Business Insider reports that Tesla dipped as much as 1.7% in early trading on the news.
Wedbush analyst Dan Ives said this is "the smart move at the right time" for CEO Elon Musk and the rest of the company.
On Tuesday, Tesla revealed it will offer shares "from time to time" with 10 banks serving as sales agents.
The announcement comes as Tesla stock sits 667% higher year-to-date.
The massive rally allows Tesla to "build up its treasure chest and capital-expenditure capabilities" while shares sit near record highs, Ives said.
Business Insider reports that Tesla dipped as much as 1.7% in early trading on the news.