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Tesla wows on first day of trading, but will it last?

I’m happy for Tesla Motors. The company’s initial public offering Tuesday was, despite the many doubters out there, a stunning success. The company closed its first day of trading at $23.89, which is roughly 40 per cent higher than its offering price. The doubters, quite understandably, point to the fact that Tesla is not profitable and has a long road ahead before it stops bleeding red ink. But there’s a sense of excitement around Tesla that bodes well for the clean technology sector generally. Yes, Virginia, there is a venture capital exit strategy for cleantech companies — even electric car companies. I have no doubt we’ll see Tesla’s stock fall below its $17 offering price, and that will likely happen in the next week or two. Still, I think there’s a solid group of investors out there that want to see Tesla succeed, believe it will succeed, and are patient enough to wait for that day. Personally, I think it will end up being scooped up by a major automotive OEM when the stock dips to bargain levels. Whatever the outcome, Tesla has a strong brand backed by strong engineering and ballsy vision, and while investors will likely be in the back seat for years asking, “Are we there yet?”, this company deserves a pat on the back and an “A” for effort and inspiration.

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Tags: IPO, Tesla Motors

This entry was posted on Wednesday, June 30th, 2010 at 12:01 am and is filed under electric vehicles. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “Tesla wows on first day of trading, but will it last?”

  1. Paul C from Austin Says:
    June 30th, 2010 at 6:08 pm

    I think you analysis is spot on, Tyler- it would not surprise me to see Tesla merge (or get swallowed up) with a larger auto-maker. And they do deserve a lot of credit for being the proverbial pebble in the resent surge of EV development.

  • Tyler Hamilton

    tyler Tyler Hamilton is editor-in-chief of Corporate Knights magazine and a business columnist for the Toronto Star, Canada's largest daily newspaper. In addition to this Clean Break blog, Tyler writes a weekly column of the same name that discusses trends, happenings and innovators in the clean technology and green energy market. This blog is a personal project started in April 2005. It is not an official blog of the newspaper.


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