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Looking to build a monster cash pile, Tesla heads back to the markets to sell shares

December 8, 2020

Via: Fortune

Tesla is taking advantage of its surging shares by going back to the capital markets for the third time in ten months and raising as much as $5 billion of common stock.

The sale through an “at-the-market” offering program, according to a regulatory filing, meaning the stock will be sold over time at prevailing market prices. After soaring almost 670% this year, Tesla shares dipped as much as 4.2% before the start of regular trading Tuesday.

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