Tesla places $ 5 billion in shares after hitting a new high on the stock market on Monday

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Brian Adam
Professional Blogger, V logger, traveler and explorer of new horizons.
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Tesla places $ 5 billion in shares after hitting a new high on the stock market on Monday

Tesla, the car company founded by Elon Musk, has started a process of selling shares worth 5,000 million dollars (about 4,100 million at the current exchange rate) after reaching an agreement with a dozen banks, which will act as placement entities of the Titles.

This is explained by the electric vehicle manufacturer in a document registered this Tuesday with the SEC. That amount is equivalent to slightly less than 1% of its current market capitalization, about 608,000 million dollars, slightly more than 500,000 million euros, after yesterday the value of the share soared more than 7% and reached a new record of 641, 7 dollars. Today they are down 2% before the market opens on Wall Street. So far in 2020 the company has multiplied its price by almost eight,

The financial entities placing the securities are Goldman Sachs, Citigroup, Barclays, BNP, Bank Of America, Credit Suisse, Deutsche Bank, Morgan Stanly, SG and Wells Fargo. They are the same ones that already carried out a similar operation last September for the same value, 5,000 million dollars. In just over three months Tesla will have managed to raise nearly $ 10 billion in cash through these processes.

Tesla is going through its best historical moment, both in stock market valuation and in results. In the first nine months of the year, its sales have grown 21% to 20,792 million dollars, just over 17,000 million euros, and it reaches a profit of 451 million dollars, about 370 million euros. In the third quarter it experienced a growth in sales of almost 40% and more than doubled its profit in that period to 331 million dollars (273 million euros). The company has chained five consecutive quarters being profitable, its great deficit since its founding.

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