Tesla Raises Hopes for Cleantech IPOs

Submitted by orville on July 2, 2010
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Its stock's 41 percent jump on Day One may herald a shift in sentiment

With all eyes in the cleantech world focused on Tesla Motors' (TSLA) first day of trading on June 29, venture capitalists and industry executives released a collective cheer when the stock of the electric vehicle maker surged 41 percent. Even sweeter, the investor support came on a day when the Standard & Poor's 500-stock index and Nasdaq both plunged more than 3 percent.

It's been a grim time for cleantech investors. Prior to Tesla, there hadn't been a U.S.-based initial public offering since A123 Systems (AONE), a maker of batteries for electric cars, went public in September. With stock markets worldwide reeling, solar-panel maker Solyndra pulled its IPO filing on June 18, choosing instead to raise $175 million in debt.

For further information: BusinessWeek