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Friday, July 16, 2010

Tesla Is "Silly ... a Stupid Idea," Lindzon Says: Govt. Better Off Investing in Bikes - TechTicker

Electric car marker Tesla went public on June 29 with great fanfare. At $17 per share, the IPO was priced above its expected range and more shares than expected were sold to meet high demand.
Tesla was the first American car company to go public since Ford in 1956 and one of the best VC-backed IPOs in recent memory; the stock jumped 41% on its opening day of trading. As a result, Tesla was hailed as a reminder of the promise of American ingenuity and (further) proof that capitalism is far from dead, despite myriad reports to the contrary.

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