Tesla shares lose more than 2% this Tuesday to lose their historical maximum price after announcing a capital increase of 5,000 million dollars, about 4,130 million euros, announced before the opening of the market.
It is the third maneuver of this type that Elon Musk’s multinational makes in 2020 taking advantage of its maximums. In the year it revalues more than 663%, while its current price is around 634 dollars per title.
Thanks to the momentum of November, Tesla appreciates more than 56% to reach a market capitalization of 593,000 million dollars, about 489,000 million euros. In recent weeks, it has exceeded the $ 600 billion barrier for the first time in its history.
Offer in the market
As Tesla explains in a statement sent to the Securities Market Commission (SEC), the offer is made “in the market”, which implies that it will be sold from time to time at current market prices. Likewise, the start-up of 5,000 million in shares will represent approximately 1% of the company’s total capital.
The operation will have the financial support of giants of US investment banking such as Goldman Sachs or Citigroup , owners, in turn, of 1.24% and 0.35%, respectively, of the Tesla shareholding.
21-D, the debut in the S&P 500
The multinational also faces its entry into the S&P 500, another of Wall Street’s benchmarks, which will take place on December 21. The index itself acknowledged in a note that the entry is one of the “most relevant of the last decade.”
This movement will be supported, in turn, by index funds. These types of investors will be forced to sell more than 51,000 million dollars in shares, just over 8% of the capital, to buy Tesla titles with the aim of replicating the S&P 500. The capital increase is also dragging the Nasdaq , a benchmark in the technology sector, which lost more than 0.42% this Tuesday.