TSLA - Tesla Motors, Inc.
Tesla Motors, Inc. engages in the design, manufacture, and sale of electric vehicles and advanced electric vehicle power train components. The company was incorporated in 2003 and is headquartered in Palo Alto, California with a showroom in Copenhagen.
Tesla Motors raised $226.1 million dollars in its initial public offering on June 29, 2010 and its shares surged 41 percent as investors jumped on board to purchase shares. Shares closed at $23.89 after opening at $17 on the very first day of the initial public offering.
After 11 weeks of trading in the stocks market the company is poised to move higher in the near term. The stocks ended the week trading at $21.05 up $1.35 or 6.85% higher on lighter than average upside volume of 2.35 million. Keep Tesla Motors, Inc. on your watch list for a breakout above the $22.35 area.
By: Marlin Rolle
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