TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker and becoming a Supporting Member. For more info: Support TMC

Tesla news from the Toronto Star

Discussion in 'News' started by Richard_B, Jul 10, 2013.

  1. Richard_B

    Richard_B Member

    Jun 23, 2013
    Ottawa, ON
    Electric-car maker Tesla hits record share price on Nasdaq news | Toronto Star

    "Tesla Motors Inc., the world’s best- performing automotive stock this year, rose to a record intraday price after Nasdaq OMX Group Inc. said it’s elevating the company’s shares to its Nasdaq-100 Index to replace Oracle Corp. The electric-car maker named for inventor Nikola Tesla climbed as much as 2.8 per cent to $125 (U.S.), the highest intraday level since Tesla’s market debut three years ago. Shares increased 2 per cent to $124.01 at 11:37 a.m. New York time.

    Tesla will be added to the Nasdaq-100, which tracks the biggest companies on the Nasdaq, before the start of trading on July 15, Nasdaq OMX Group Inc. said in a statement yesterday. Oracle, which last month said it will join the New York Stock Exchange, is the biggest company to jump between the competing exchanges. Tesla is the only U.S.-based automaker on the Nasdaq.

    Shares of Tesla, the carmaker headed by billionaire Elon Musk, have more than tripled this year as the popularity of its new Model S sedan helped the company turn its first quarterly profit. Gaining entry to benchmarks tracked by investors is attractive to public companies because it provides a guaranteed shareholder base.

    “It’s a coming of age, recognition that a company has market cap and liquidity,” said Sandy Mehta, chief executive officer of Value Investment Principals Ltd. in Hong Kong. “Once the stock joins the index, you will have some buying.”

    Yesterday before the Nasdaq announcement, Tesla increased to a record close of $121.61. Tesla surged 259 per cent this year through July 8. The current leader in the Nasdaq-100 is Netflix Inc., which gained 152 per cent during the same period.""

Share This Page

  • About Us

    Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.
  • Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.