Tesla Motors (Nasdaq: TSLA) ended its first day of trading at $23.89–up nearly 41% from a starting price of $19, which was $2 higher than the $17 offer price.
The launch was an undeniable success, and the high point of a bad day across the markets. The stock got off to a slow start, falling back to $17.54, before spiking to $25 in afternoon trading.
The share price continued to rise this morning, opening at $25.96 and
moving to around $27 in mid-morning trading.
But wary investors will continue to watch the stock’s performance over the next few months. Lithium-ion battery maker A123Systems (Nasdaq: AONE) will undoubtedly serve as a warning. The company debuted last September on the Nasdaq at $20 and quickly rose to around $26 before a steady decline to its current position below $10.
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