Tesla will sell shares for $ 5 billion

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Tesla will sell shares for $ 5 billion

10.12.2020 News

Electric car maker Tesla has agreed with brokerage companies to sell its shares for a total of $ 5 billion. This was reported by Bloomberg, citing documents submitted to the US Securities and Exchange Commission (SEC).

The shares will be sold at the market price. This is the third sale of Tesla shares in 2020. Bloomberg explains this by the rapid growth that papers have experienced over the past 12 months. In September, Tesla offered the market shares for the same $ 5 billion, and in February – for $ 2 billion. These agreements allowed Tesla to invest in the development of production. Tesla is currently building two plants in Texas and Berlin.

Since the beginning of 2020, Tesla quotes have soared by 670%. As of December 8, the company’s shares are trading at around $ 641. This trend is partly due to the inclusion of Tesla shares in the S&P 500 broad market index scheduled for December 21.

In August, the company split shares to make them more accessible to a wide range of investors.

According to Refinitiv, 758.13 million shares of Tesla are in free float, or 79.98% of their total number. During the pre-market on December 8, quotes lose 1.5%.

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