Mexican Media Brands
Tesla Shares Surge 14% to Top $110
Shares of electric carmaker Tesla Motors Inc. soared $13.22 on Tuesday to close at a record $110.33.
#hybrid
Share
Shares of electric carmaker Tesla Motors Inc. soared $13.22 on Tuesday to close at a record $110.33.
The company's share price has doubled in May. Earlier this month Tesla reported its first quarterly profit $11 million in the first quarter of 2013 and its Model S electric sedan received a rave review from Consumer Reports.
Since mid-month the company has raised $1.1 billion from the sale of notes and common stock and repaid the remaining $452 million of its loan from the Dept. of Energy.
The surge also has been fueled by a short squeeze, as traders who previously bet that Tesla stock would drop were forced to buy shares to cover their positions, analysts say. They add that the company is expected to unveil expansion plans for its vehicle charging network this week.
RELATED CONTENT
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.
-
On Military Trucks, Euro Car Sales, Mazda Drops and More
Did you know Mack is making military dump trucks from commercial vehicles or that Ford tied with Daimler in Euro vehicle sales or the Mazda6 is soon to be a thing of the past or Alexa can be more readily integrated or about Honda’s new EV strategy? All that and more are found here.
-
Aluminum Sheet for EV Battery Enclosure
As the number of electric vehicles (EVs) is about to increase almost exponentially, aluminum supplier Novelis is preparing to provide customers with protective solutions