The new electric car maker Tesla went public today on the Nasdaq stock exchange. It’s stock rose 40% on the first day. They’re going to need all the help they can get. Their electric cars sell for $80,000 with a paltry number of dealers that can repair them. With all the hybrids on the market, I fail to see how they can gain any significant traction in a super competitive car market. Anyone remember the Delorean?
The IPO (i-po) for Tesla went well
After ringing the opening bell.
Though profits aren’t there
Stockholders don’t care
They’re betting this new car will sell.