After reaching an all-time high on Monday, the first day Tesla traded at its 5-to-1 split-adjusted price, the electric vehicle company touched another all-time high on Tuesday, reaching $502.49 per share.
The all-time high works out to $2,512.45 per share prior to the stock split, which is a new high for the company, as its market cap still made gains to now sit at $442 billion. Despite the high, Tesla ended the trading day at $475.05 per share, down 4.67% for the day. After hours trading is showing shares of Tesla are already up slightly.
Earlier today, a regulatory filing indicated Tesla plans to sell up to $5 billion in stock at an “at-the-market” offering, with shares selling over time at prevailing market prices.
Tesla noted as of June 30, 2020, it had roughly $8.6 billion in cash on hand, to go with $7.8 billion roughly in long-term debt, which does not include debt from its leasing programs, which extended this year to Model 3 and Model Y in Canada.
