Tesla Cashes In On Stock Price Explosion With Another $5B Share Sale

Tesla (NASDAQ: TSLA) plans to raise up to $5 billion in its third share sale this year as the EV maker looks to capitalize on the surge in its stock over the past year. Tesla may offer and sell from time to time common stock having an aggregate offering price of up to $5 billion, the company said on Tuesday, when its market capitalization was exceeding $608 billion. After news of the third share offering this year broke, Tesla's shares dropped by 2 percent in pre-market trade and were trading at $641 each. The share sale, for which the EV maker…