Ready, Set, Go: Tesla Motors IPO (TSLA)

Tomorrow is the big day for Tesla Motors, when they hope to raise around $244 million in operating funds for the company through an initial public offering. The green electric car startup began selling their vehicles two years ago, and remains the only highway-ready electric vehicles being sold in volume to date. Despite the fact that the company has sold over 1,000 Roadsters, each costing over $100,000, the company has yet to make a profit. The company’s first quarter losses surpassed $29 million, which was up $13 million from the previous year. Overall revenues for the quarter came it at just under $21 million.
While those numbers may seem dismal, there is quite a bit of talk in the green community about these vehicles. Currently targeting the high-end consumer market, there is no reason that the company could not begin producing vehicles for the middle-income market as well. You can check out what Tesla currently has to offer at their showroom in Los Angeles, located at 11163, Santa Monica Blvd. They are open Tue – Sat from 10:00 a.m. to 6:00 p.m. and on Sundays from 12:00 noon to 5:00 p.m. The company’s IPO is slated to be priced tonight, after the market closes. Proposed price range for the stock is from $14 – $16 per share. The stock has been approved to trade on the NASDAQ exchange under the symbol TSLA.