We touched on the issue of the first day of Tesla Motors TSLA IPO earlier this evening, so we thought we would take another look now that Nasdaq has come to a close. The first day of trading was seen as a huge success for the company, the main reason being that its starting point was much higher than expected.
The starting price was $19 to $21.89, that’s 30 percent higher than the $17 estimate last night. Value of Tesla Motors now stands at $2 billion – not bad for a company that makes just two vehicles, the Roadster and the Roadster Sport. However, we recently reported that other models are coming.
There were fears that the all-electric car company was going to get off to a poor start, but it seems that the A-list Hollywood showing at the recent roadshow did the image of the company a whole load of good. Something has to have worked for them – considering the rest of the market was pretty poor.
Tesla or TSLA as it is known on the stock market was still climbing as of close today, but Camille Ricketts from VentureBeat expects this pattern to carry on for days if not weeks – only until the media interest dies down.
How do you think the next few days will go for Tesla and its stock price?