In a clear sign that people are getting behind electric vehicles, an IPO for a proven, but tiny electric car company is taking Wall Street by storm.
Tesla Motors, which to date has produced a snazzy roadster and practical sedan that are both entirely powered by an electric motor, went public this week and the investors responded. In an opening reminiscent of Google’s 2004 IPO, Tesla’s stock price surged 18 percent in the first two days of trading, with shares starting at $17 but trading for $23.89 at day’s end.
From the Washington Post:
The Tesla stock offering “is a good sign that people believe electric vehicles have potential,” said Robbie Diamond, president of the Electrification Coalition.
A sign of the future? We certainly hope so. When investors put their attention (money) on alternative fuels, we all reap the dividends.
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