Tesla Inc (TSLA) shares slipped -1.14% to $634.4 in the pre-market session on Tuesday after Tesla Inc announced a $5 billion capital raise, the second such move in 3 months period this year’s as the giant electric car manufacturer is cashing in on a sudden and dramatic surge in its shares.
On Monday, the company’s stock hit a record peak, raising the market capitalization of Tesla beyond $600 billion and further solidifying its status as the world’s most successful automotive company amid demand that is a fraction of rivals such as Toyota Motor, Volkswagen, and General Motors.
The firm has plans to launch new product lines, including the Tesla Semi and its revolutionary Cybertruck, a semi-truck.
Many analysts think that the stock of Tesla is in a bubble, and some have cautioned at current prices against introducing it to the S&P 500.
