Tesla Inc. (TSLA) made its stock market debut in 2010, with an initial public offering (IPO) priced at $17/sh. If you had invested $1,000 in the IPO, you would have purchased 58 shares of the electric car maker. The company has not announced any stock splits or dividends. Keeping that in mind, with the current share price (as of June 29, 2018) of $342.95, those 58 shares would now be worth $19,891.1. That means a 1,889% increase in value.
Tesla defines itself as a leading American electric car company. Tesla designs, develops, manufactures and sells electric cars, electric vehicle powertrain components and energy storage systems across the world. The company focuses on the global transition to sustainable energy. Founded in 2003, Tesla now offers a range of energy products that incorporate solar, storage and grid services.
Tesla filed its long-awaited IPO with the Securities and Exchange Commission (SEC) on Jan. 29, 2010. The company planned to file for an IPO underwritten by Goldman Sachs Group Incorporated (GS), Morgan Stanley (MS), JPMorgan Chase & Co. (JPM) and Deutsche Bank AG (DB), as outlined in its preliminary prospectus.
On May 21, 2010, Toyota Motor Corporation (TM) agreed to invest $50 million, or a 2.5% stake, into Tesla Motors and announced a strategic joint venture to build electric vehicles. On June 29, 2010, Tesla Motors Incorporated launched its IPO on the Nasdaq exchange. It offered 13.3 million shares at a price of $17 per share, raising a total of $226.1 million. On the day of its IPO, shares of Tesla Motors increased by 40.53% and closed at $23.89.
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News about Tesla revolves heavily around Model 3 production. The company aims to produce 5,000 units per week by the time it reports results in early July, a goal the company's eccentric co-founder and CEO Elon Musk predicts the company will "quite likely" accomplish. However, some, including David Tamberrino of Goldman Sachs, see Tesla falling short of Musk's expectations.