{"id":1651,"date":"2020-12-08T16:06:54","date_gmt":"2020-12-08T16:06:54","guid":{"rendered":"https:\/\/thenextweb.com\/?p=1330871"},"modified":"2020-12-08T16:06:54","modified_gmt":"2020-12-08T16:06:54","slug":"tesla-just-set-a-new-record-high-now-it-wants-to-dump-5b-in-stock","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=1651","title":{"rendered":"Tesla just set a new record high. Now it wants to dump $5B in stock"},"content":{"rendered":"\n

Tesla stock closed at a new all-time high on Monday, its third this month, bringing its 2020 returns to a taint-tickling 650%.<\/p>\n

Now, Tesla wants to cash in on the abundant investor interest\u2026 again.<\/p>\n

The Musk-led wunderstock is looking to raise<\/a> an additional $5 billion, having recently filed to sell the equivalent of 0.8% of the company\u2019s outstanding shares, reports MarketWatch.<\/p>\n

\"tesla,
<\/i><\/a>Chart made with Flourish.<\/figcaption><\/figure>\n

The move comes just three months after Tesla\u2018s share price sank 16% in one day after the company disclosed a separate $5 billion offering, contributing to what MarketWatch noted was its biggest drop in history<\/a>.<\/p>\n

It\u2019s hard to blame Tesla. Why not cash in when the price is high?<\/h2>\n

After all, Tesla is now one of the largest companies in the world, having exploded into the top 10 this year.<\/p>\n

Just six US-listed stocks boast bigger market values than Tesla: Alibaba, Facebook, Alphabet, Amazon, Microsoft, and Apple.<\/p>\n

<\/i><\/a>Chart made with Flourish.<\/figcaption><\/figure>\n

Besides, it\u2019s a matter of weeks<\/a> until the company enters the S&P 500 index. When that happens, large index-tracking mutual funds will be forced to add the stock to their hefty portfolios, and some analysts say this could lead to further rallies.<\/p>\n

And so, the trick is to part with $5 billion worth of stock without tanking its healthy share price. To mitigate the damage, Tesla reportedly says it will sell the shares from \u201ctime to time.\u201d<\/p>\n

Extra points if Tesla\u2018s accountant can time the sales to match the increased demand from pension funds and the like come December 21.<\/p>\n

<\/i><\/a>Chart made with Flourish.<\/figcaption><\/figure>\n

But while September saw the market temporarily bury Tesla\u2018s share price on news of it readying to dump billions of dollars worth stock, today\u2019s response hasn\u2019t been as drastic.<\/p>\n

Tesla stock is currently trading at $628.61 \u2014<\/span> 3% below yesterday\u2019s intraday record high of $648.79.<\/p>\n

So far so good.<\/p>\n

Published December 8, 2020 \u2014 16:06 UTC <\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla stock closed at a new all-time high on Monday, its third this month, bringing its 2020 returns to a taint-tickling 650%. Now, Tesla wants to cash in on the abundant investor…<\/p>\n","protected":false},"author":1,"featured_media":1652,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/1651"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1651"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/1651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/1652"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}