Tech Stocks

After Stock Split, Tesla's Share-Sale Plans Boost Bonds

Tesla’s stock has more than tripled since the start of the year, giving it a market capitalization larger than many behemoths of American industry. But its rise wasn’t necessarily driven by fundamentals. WSJ explains. Illustration: Jacob Reynolds/WSJ

The latest beneficiaries of Tesla’s surging shares: bondholders.

Prices for Tesla Inc.’s traditional bond due in 2025 reached a record 104.36 cents on the dollar Tuesday, according to MarketAxess, after the electric-car maker said it would sell up to $5 billion in stock, bolstering its balance sheet after a 5-for-1 stock split Monday.

That…

To Read the Full Story

Continue reading your article with
a WSJ membership

View Membership Options

This post first appeared here: https://www.wsj.com/articles/teslas-share-sale-plans-boost-bonds-11599048673?mod=rss_Technology

Related Articles

Leave a Reply

Back to top button