So, Tesla's long-awaited IPO is due next week, and there's a lot of chatter about whether to invest or not. Considering this is the first automotive company IPO in ages, this particular offering is getting noticed by people who might otherwise not be paying attention. We're still not going to tell you whether to put your money into Tesla or not, but we will show you what some other people are saying, starting with Mad Money's Jim Cramer, who thinks that the IPO is scorching hot but that the stoc
Tesla Motors Elon Musk
It's no secret that Tesla's chief executive officer Elon Musk is experiencing some difficulties right now. From the messy divorce to reports that he's broke, Musk has recently made headlines for all the wrong reasons. That's precisely why Tesla Motors hope to distance itself from the CEO as it moves ever closer to its IPO.
The other day, the Wall Street Journal reported that Tesla Motors "incurred a net loss of $29.5 million in the first quarter" of 2010, adding to a total net loss since its founding of "about $290.2 million." Of course, we can't forget that CEO Elon Musk recently said he was broke. None of this is particularly new, but it is constantly being talked about, and WSJ opinion writer Holman W. Jenkins Jr. wrote:
Diving into an extremely competitive and capital-intensive business in which customers generally don't appreciate having access to beta products is not a good way to enhance your personal fortune. In fact, if Elon Musk is being honest in the latest court filings related to his divorce proceedings, it looks like a great way to vaporize a fortune.