Amid Tesla's record spike, which saw shares hit new highs, the company announced Tuesday that it would sell up to $ 5 billion worth of shares.
The additional shares will be sold "from time to time" and "at market prices," according to a filing with the Securities and Exchange Commission.
The stock pulled back from its market high after the news but was still 3% higher.
Tesla shares were on fire this year. By the close of trading on Monday, the electric car manufacturer had gained almost 500% in 2020. Tesla's run-up has only picked up since the company announced its 5-for-1 stock split on Aug. 11. During that time, Tesla shares have rallied 81.3%. That win includes a 12.6% pop on Monday when the split took effect.
This is a developing story. Check for updates again.
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