Shares of Tesla Motors fell more than 10 percent today
By Andrew, 27 Dec, 2010. 0 Comments
Tesla Model S
Today is a bad day for Tesla Motors as the shares of this manufacturer fell more than 10 percent this morning, as the carmaker's "lock-up period" expired. This means that beginning Monday, the owners of the 75 million shares can sell their stock. As expected, as Tesla Motors said in a filing with regulators last month, the carmaker’s share price fell. For those who don’t know, nobody could sell the Tesla shares for a period of 180 days.
Back in June, when Tesla Motors debuted on the Nasdaq, its shares rose mode than 40 percent. Tesla is already working hard on the Model S and said last week that it received over 3,000 orders for its upcoming car, which will make its debut in 2012. [via autonews - sub. required]
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