Tesla Plans To Sell $5 Billion In Shares As Stock Rallies

Tesla plans to sell additional common stock worth up to US$5 billion and has hired Wall Street’s biggest banks as sales agents, the EV maker said on Tuesday, days after its five-for-one stock split took effect. Goldman Sachs, BofA Securities, Barclays Capital, Citigroup Global Markets, Deutsche Bank Securities, Morgan Stanley, Credit Suisse Securities (USA), SG Americas Securities, Wells Fargo Securities, and BNP Paribas Securities will act as sales agents to the common stock that Tesla may offer and sell “from time to time,”…