According to Industry Week (.com) Tesla Motors Inc said it will sell 1.4 Billion in stock to pay for ramped up production of the model 3 elec. car and general overall
boosting of their annual production.
Elon Must will be the one selling the most stock ! (must be nice right?)
These will be sold to cover tax obligations on stock options.
Upon news of the sell off, stocks fell 1.8% to in extended trading. So far this year
there has been a decline of 12% for the year.
Tesla has been facing a sharp increase in internal spending. They will also be
ramping up their manufacturing in their battery factory in Nevada.
For the full article please head to this LINK. The above summary has been
taken from http://www.industryweek.com/growth-strategies/tesla-sell-14-billion-shares-expanded-production.
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