Today, Tesla Motors became the first American car company to make an initial public offering (IPO) since Ford Motors did so in 1956. The company makes sleek, sexy Roadsters that run on electricity. And while the electric car has been the butt of a lot of jokes in the past and was even the victim of a murder conspiracy, the IPO outlook is promising.
According to the Wall Street Journal blog Driver's Seat:
"Not only did the IPO take place but it included more shares at a higher price than expected. The company boosted the number of shares to as much as 13.3 million and the price to $17 per share, for a total value of $226 million. The company previously had said it could sell up to 11.1 million shares at a price of $14 to $16 per share, or a total of $178 million. The increase in part reflects interest in electric cars that is greater than expected and growing surprisingly fast. Tesla is trading on the Nasdaq stock market under the symbol TSLA."
Looks like the electric car is coming back to life.
Are you ready to go electric? Here are 5 reasons you should.
- It's the patriotic thing to do.
If you want to show your true red, white, and blue colors, go electric. From coal to wind to solar to nuclear to natural gas to petroleum to biomass burning to geothermal to wind and solar -- most of those diverse energy sources are derived right here in the USA. But, hey, if you want to give your hard-earned money to other governments, countries, people, terrorists, that's your business.
- You'll save money.
Fluctuating gas prices can do a number on your wallet. With an electric car, you don't have to worry about them at all. Just plug in your car's charger at night, much like you would your cell phone charger -- and you'll be ready to hit the road in the morning.
- You'll help end our country's addiction to oil.
Three words: BP Oil Disaster. Americans burn 378 million gallons of gasoline a day, according to the U.S. Energy Information Agency. You want to boycott BP? Switching to electric is one sure way to do that.
- You'll help us all breathe a lot easier.
Fewer smog-forming tailpipe emissions on the road mean less pollution in the air. Electric cars run clean since they don't use internal combustion engines (ICE); there is no engine exhaust and zero emission.
- It will set a good example for your kids.
If you want to leave the world a better place for your children, owning an eco-friendly car does more to impart environmental values to your kids than countless boring lectures on saving the planet. If you live it, they will learn it.
If you can't afford to buy a new car (the Tesla Roadster costs anywhere from $50,000 to $100,000 -- though you can buy an electric car for far less), invest in Tesla stock and consider converting your current automobile to an electric one. To learn more, visit Electric Conversion Made Easy.
What do you think about electric cars? Did you get Tesla stock today?