Tesla Motors Confident in an Electrifying IPO

With only ONE operable prototype of it's new sedan, 12 dealerships and NO final design or manufacturing process, Tesla Motors still has high hopes as it offers public shares for the first time tomorrow. more from CNNMoney.com staff writer David Goldman: Tesla Motors will offer up its shares to the public for the first time on Tuesday, testing investors' faith in a company that has proven it can make functional and stunning electric cars but has never had a profitable quarter. PayPal founder Elon Musk's seven-year old auto company lost $55.7 million last year and $260.7 million since its inception. The company has performed so poorly from a financial standpoint that Musk recently said he lost his entire personal fortune on Tesla. But investors are giddy about the Palo Alto, Calif.-based automaker's initial public offering, prompting Tesla on Monday to increase the number of shares it plans to offer by nearly a fifth to 13.3 million. (more…)
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