Tesla Motors (TLSA) Down Again As Lock-Up Expires

After falling 8 percent on Friday on a new 'Sell' rating, Tesla Motors, Inc. (Nasdaq: TSLA) is down another 10 percent today as the lock-up agreement from the IPO expires today, freeing up millions of shares to be sold.

Beginning today, stockholders owning an aggregate of approximately 75,000,000 shares will be entitled, under contracts providing for registration rights, to require us to register shares of our common stock owned by them for public sale in the United States, subject to the restrictions of Rule 144.

In addition, the company has registered approximately 25,106,736 shares previously issued or reserved for future issuance under our equity compensation plans and agreements. Subject to the satisfaction of applicable exercise periods and, in certain cases, lock-up agreements, the shares of common stock issued upon exercise of outstanding options will be available for immediate resale in the United States in the open market.

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