Reuters first on red-hot Tesla IPO

Reuters was 27 minutes ahead of Dow Jones in reporting on June 28 that the scorching hot IPO of electric carmaker Tesla Motors had priced above the expected range and that all the shares on offer had been sold. Tesla is the first U.S. car company to go public since Ford made its debut in 1956, and the IPO was a rare stock market hit on the first day of trade, jumping 41 pct when the broad market was down. Reuters also put out a Special Report on June 29 that looked under the car maker’s hood. The report, which was cited by the Wall Street Journal, included new details on how Tesla clinched deals with supplier BorgWarner and others to ride out crises in its operations and funding. The verdict from analysts, rivals and suppliers: Tesla faces a tough road ahead.