Tesla shares jump after a $2 billion stock offering—Here's what could happen now $TSLA (via TradingNation)
Ten days ago, we weren't as worried about China. ... Ralph Lauren told you 10 days ago that things look pretty good. They put out some numbers today which says that things look pretty bad. So, there's real changes. I think that Musk obviously, like everybody else, is trying to keep his workers healthy but wants to expand there, and he's got a chance.
Kari Firestone, chairman and CEO of Aureus Asset Management, said the illogical growth of Tesla makes it difficult to price. It's a cult. It doesn't relate to logic and earnings per share. It's a cult, so people believe in Elon Musk. They think that he is unstoppable, he's invincible. He's created a great franchise. People love the car, and that's what it's about. So, it's really hard to price.
Steve Weiss, managing partner at Short Hills Capital Partners, said Tesla could have been even more generous with their stock offering. I think the only mistake in doing $2 billion is that they should have done $4 billion to $5 billion. ... This is no different than a biotech stock that reports phase three results — stock goes way high and they immediately come with an offering. So, funding and the balance sheet being one of the concerns here, they could have gotten to $5 billion for it. ... But look, to me the same story applies whether it's up $500 from me here or down $500.
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