Tesla cashes in on surging stock price with $2 billion stock offering

Enlarge / Elon Musk in 2015. (credit: ODD ANDERSEN/AFP/Getty Images)

Tesla will raise $2 billion in a new stock offering, the company announced on Thursday morning.

Tesla’s shares are worth about $780 on Thursday morning—up 2 percent over Wednesday’s closing price. That’s still down from the record high of the more than $940 the stock reached last week.

CNBC notes that as recently as two weeks ago, Musk was saying that Tesla wasn’t planning to raise more cash. But the spectacular performance of Tesla’s stock over the last two weeks may have made this an opportunity too good to pass up.