Tesla Does Better than Expected at IPO!

The Tesla IPO which was held on Tuesday went better than expected. Tesla is a Palo Alto, Calif. based electric vehicle manufacturer. Other automakers with "green" hybrid vehicle models include the Nissan Altima and Ford Fusion, which can be test driven at a Nissan Altima Inventory or at an Edmonton Ford dealer respectively. VW dealer businesses throughout the nation hope to get a hybrid Volkswagen Golf or other model in the next few years to help them compete in the rapidly expanding hybrid and electric car market.

Tesla held the first IPO of a car manufacturer since Ford in the 1950's on Tuesday. Tesla did well at the IPO, as their stock went up 41 percent on a day in which other markets did not fare as well. Tesla started at $17 dollars per share, and by the end of the day the company's stock value went up to $23.89 per share. 13.3 million shares were sold at the $17 per share price and traded under the name TSLA.

The current Tesla Roadster is a high priced and low production model. The cost of the roadster is $109,000 and it is owned by several celebrities and high profile businesspeople. However, Tesla will offer a larger scale production of its Model S sedan that will be released in 2012.

Tesla was hoping to raise a large amount of money at its IPO to help it continue to expand its business. The funds will likely be used for new manufacturing facilities and possible acquisitions. Tesla has not yet been profitable but this is likely due to the fact that it has very limited amounts of its first model, and that proper manufacturing facilities have not yet been purchased for the automaker.

Now that Tesla has the money that it needs, this will change, and Tesla may be into high profitability earlier than expected with its excellent results at its IPO.