Musk Bulls Power Tesla Ahead of Offering: San Francisco Mover
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Tesla Motors Inc., the electric-car maker run by Elon Musk, surged as much as 12 percent on investor confidence in Musk’s plan to boost his stake in the company that’s selling as much as $830 million in shares and debt.
Tesla, which is raising the money to fund operations and be first to repay its Energy Department loan, gained 8.7 percent to $92.25 at the close in New York after reaching $95. The shares climbed 172 percent this year, compared with a 16 percent increase for the Russell 1000 Index.