Tesla Shares Are Going Bananas Right Now

Tesla’s stock was up over 7% in after hours to $90.50 but has since pared back to about 5.5%.

This comes on the back of news that the company is raising more money, offering new common stock and convertible bonds.

CEO Elon Musk has also said that he will buy $100 million in Tesla stock as part of the secondary offering. And the proceeds of the offering will be used to pay back the loan from the Department of Energy.

Here’s the after-hours chart from Marketwatch:

Marketwatch

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.