Electric carmaker Tesla Motors Inc. (Nasdaq: TSLA) priced shares above the expected range for its initial public offering today, according to reports.
Tesla priced 13.3 million shares at $17 dollars, raising approximately $226 million.
The previously reported range was $14 to $16 dollars. All eyes will be watching the movement of the stock today.
Tesla is the first automaker to go public since Ford (NYSE: F) in the 1950s. However Tesla CEO Elon Musk says his company is more akin to a technology company like Apple (Nasdaq: APPL) than it is to Detroit automakers.
Read a in-depth, special report on Tesla, called "Is Tesla The Future Or The New Government Motors?", at the link below.
