Tesla's Musk Rings the Opening Bell as His Company's Stock Begins Trading
By Michelle Krebs June 29, 2010Tesla Motors Founder and CEO Elon Musk, surrounded by Tesla colleagues, friends and family, presided over ceremonial opening bell as the stock of the California-based electric car company began trading on the NASDAQ exchange Tuesday.
The news of Tesla's listing flashed across the screen at New York City's Times Square, where the company showed off its electric-powered Tesla Roadster and Roadster Model S.
Tesla stock opened at $17 a share, more than the $14 to $16 a share range that had been expected, in a stock market that nosedived on concerns about consumer confidence in the U.S. and global economic issues.
Trading under the ticker symbol TSLA, Tesla is the first automotive company to go public in more than 50 years. The last public offering of a car company's stock was Ford's in 1956.
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