Tesla Raises More than $226 Million from IPO with Shares at $17

Tesla Motors will begin offering shares to the public for the first time ever today. Although the company has lost $260.7 million since its birth, investors remain optimistic about electric car company.

Tesla Motors will start trading today on Nasdaq under the symbol TSLA with shares priced at $17 bucks, which is more than the initial $14 to $16 range. This has allowed Tesla to raise more than $226 million.

Tesla has sold more than 1,000 roadsters, but much of the excitement surrounds the upcoming introduction of the Model S sedan that is slated to go on sale in 2012. Until the Model S is released it is expected that Tesla will continue to lose money.

Full Story: CNN

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