Tesla CEO Elon Musk unveils the Cybertruck at the TeslaDesign Studio in Hawthorne, Calif. The cracked window glass occurred during a demonstration on the strength of the glass.
Robert Hanashiro | USA TODAY | Reuters
Tesla shares briefly sold off this morning with the announcement that the company plans to raise $2 billion by selling new shares of stock — diluting the shares of people who already own Tesla — but analysts are saying the money will let Tesla expand faster and secure its sources of batteries as it pushes into giant markets for small sport-utility vehicles and pickup trucks.
The company said it plans to use the proceeds “to further strengthen its balance sheet and for general corporate purposes.” It will offer 2.65 million Tesla shares through underwriters Goldman Sachs and Morgan Stanley, with expected gross proceeds of $2.3 billion before discounts and expenses.
The move marks a sharp change in finance strategy from what Tesla was saying on its fourth-quarter earnings…