Tesla to sell up to $5 billion in stock

Amid a record stock price rise, Tesla said Tuesday that it will sell up to $5 billion in stock. An SEC filing said the additional shares will be sold ’from time to time’ and ’at-the-market’ prices. Tesla shares have gained nearly 500% in 2020. The run-up has gained steam since the company announced its 5-for-1 stock split on Aug. 11. Tesla’s current market cap now stands around $464 billion