Finance

Dow futures drop 150, all eyes on Tesla

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Traders work on the floor at the New York Stock Exchange, August 5, 2019.

Brendan McDermid | Reuters

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9:21 am: Analysts say Tesla’s $2 billion stock offering ‘smart’ and ‘sensible’

Two analysts heralded news of Tesla’s new $2 billion stock offering as a smart move for CEO Elon Musk and the rest of the carmaker’s board. Dan Ives of Wedbush Securities told CNBC that he thinks the sale is “a smart strategic move. It takes any doomsday scenario around cash crunch, or limiting some of their strategic initiatives, off the table.” Meanwhile, Pierre Ferragu of New Street Research said that while he wasn’t expecting the cash grab, it makes sense that Tesla…



Source cnbc.com

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