If Tesla Inc (NASDAQ:TSLA) needs to make a cash call in the future, we can assume that Baillie Gifford & Co. will be on the short list of potential contacts to reach out to.
Reuters has the scoop.
Baillie Gifford & Co, one of the top shareholders of Tesla Inc (TSLA.O), has said it would be willing to inject more cash into the electric carmaker, the Times reported bit.ly/2PwSpuu on Monday.
“If he (Tesla CEO Elon Musk) needs more capital we would be willing to back him,” the Times quoted Nick Thomas, a partner at Edinburgh-based Baillie Gifford, as saying.
The firm is currently Tesla’s third-largest shareholder, behind only Elon Musk and T.Rowe Price Associates Inc.
Tesla Inc shares rose $12.40 (+3.75%) in premarket trading Monday. Year-to-date, TSLA has gained 6.28%, versus a 0.73% rise in the benchmark S&P 500 index during the same period.
TSLA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #1 of 25 stocks in the Auto & Vehicle Manufacturers category.
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