, Columnist
Suddenly Tesla Decides It Needs Some Cash?
Companies do seemingly constructive things at awkward moments.
Think long, think wrong.
Photographer: PETER PARKS/AFP/Getty Images
This article is for subscribers only.
When running a company – as with gambling, romance and, uh, duck-hunting – timing is everything.
Take Tesla Inc., for example: Last August, its stock price was solidly above $300, and Elon Musk had not yet started his long-running experiment to see how much wild stuff he could say on Twitter. Liam Denning writes this would have been a perfect time for Tesla to raise a bunch of cash by issuing more stock, to help it make electric cars more quickly, thereby justifying its high stock price (which would shortly go on to touch $380).