Shares of Tesla Motors (TSLA) are trading higher today after Elon Musk tweeted that the company would not have to raise money during the fourth quarter due to its SolarCity (SCTY) purchase. So what, says CFRA’s Efraim Levy who says Tesla will have to raise money at some point. He explains:
The volatile shares are higher, as CEO Elon Musk tweeted that Tesla’s SolarCity purchase will not necessitate raising equity or selling corporate debt in Q4. However, our review of Tesla’s recent SEC filings bolsters our projections that Tesla will need to raise cash to support the deal....The stock closed up $4.34 at $200.95.
We've estimated the company may need as much as $6 billion to achieve world domination.