Louisiana Light • 2 days | 85.15 | -1.06 | -1.23% | |||
Bonny Light • 1 day | 88.97 | +1.21 | +1.38% | |||
Opec Basket • 2 days | 84.98 | -0.94 | -1.09% | |||
Mars US • 146 days | 77.67 | -1.57 | -1.98% | |||
Gasoline • 10 hours | 2.721 | +0.049 | +1.82% |
Bonny Light • 1 day | 88.97 | +1.21 | +1.38% | |||
Girassol • 1 day | 88.90 | +1.44 | +1.65% | |||
Opec Basket • 2 days | 84.98 | -0.94 | -1.09% |
Peace Sour • 16 hours | 74.10 | -0.27 | -0.36% | |||
Light Sour Blend • 16 hours | 73.60 | -0.27 | -0.37% | |||
Syncrude Sweet Premium • 16 hours | 82.35 | -0.27 | -0.33% | |||
Central Alberta • 16 hours | 74.00 | -0.27 | -0.36% |
Eagle Ford • 2 days | 77.83 | -0.27 | -0.35% | |||
Oklahoma Sweet • 2 days | 78.00 | +0.00 | +0.00% | |||
Kansas Common • 2 days | 71.50 | -0.25 | -0.35% | |||
Buena Vista • 2 days | 84.55 | +3.95 | +4.90% |
A group of warships from…
New research from Goehring and…
Tesla looks set to become one of the few high profile companies backed by the government as part of the Department of Energy’s loan program for clean tech companies, that actually succeeds. Solyndra was the most famous failure, but recently Fisker, another electric car maker, has ventured close to bankruptcy, failing to pay the first instalment on its $192 million government loan.
Just one week ago Tesla astounded the market by announcing its first ever profits and absolutely blitzing all analyst predictions for first quarter earnings and revenue. The success was led by incredible sales figures for the all-electric Model S luxury sedan, which saw 4,900 deliveries made against an expected 400.
Related article: What does the Future Holds for EV’s after Tesla Model S Failed Road Trip
Tesla intends to continue with this success by selling 2.7 million new shares and raising $450 million in a bond sale. CNN Money reports that in total the company hopes to raise around $850 million, part of which will go to paying off the $465 million loan from the DoE earlier than forecast, and the rest will be invested in other areas of the business.
Elon Musk, Tesla’s CEO, has already said that he will buy $100 million worth of new stock. Normally such share offerings cause market prices to fall, but due to Tesla’s strengths, and the confidence that Musk is showing by investing in the company himself, Tesla’s share price actually grew 6% in after-hours trading on Wednesday.
Tesla’s stock value is up 150% so far this year, driven by great performance, and confidence of further success in the future.
By. Charles Kennedy of Oilprice.com
Russia Demands Oil Producers Slash Output for OPEC+
U.S. Northeast Gasoline Reserve Could Be Sold Off
World’s Top Oilfield Services Provider Not Leaving Russia
Ukraine Drone Attacks Knock Out 600,000 Bpd of Russian Refining Capacity
U.S. Crude Oil, Gasoline Inventories Continue to Drop
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Merchant of Record: A Media Solutions trading as Oilprice.com