Investing
Elon Musk Has Two More Hot IPOs Coming From SolarCity and SpaceX, Eventually (TSLA)
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Elon Musk, who runs Tesla Motors Inc. (NASDAQ: TSLA), may have two more hot initial public offerings coming down the pipe which are sure to get plenty of media coverage. Anything with the name “solar” has been abysmal as far as a stock is concerned. But what about the privatization of space now that NASA is out of the space launch game?
Musk is planning a sale of shares in SolarCity after additional clarity is made on lease accounting. The company leases roof-top solar panel systems and recent reports originally put the SolarCity IPO plans ahead of what Musk told Bloomberg in a recent interview. Apparently not all lease accounting is the same.
Another interesting initial public offering could be the planned share sale of SpaceX, which is expected to have satellite launches to carry cargo to the International Space Station with a test launch currently slated for late this month. Bloomberg noted a 2013 timeline for SpaceX.
Tesla Motors, Inc. (NASDAQ: TSLA) still trades around $33.00 against a 52-week trading range of $21.50 to $39.95 and it is still valued at almost $3.5 billion. Thomson Reuters has 2012 sales targets of just over $536 million in 2012 and nearly $1.7 billion in sales in 2013.
JON C. OGG
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