SolarCity goes public

By Muckety

December 13, 2012 at 12:31pm

SolarCity, the solar panel company chaired by serial entrepreneur Elon Musk, began public trading on Nasdaq Thursday.

Shares opened at $9.25, significantly below the price originally outlined in the company’s initial filings with the Securities and Exchange Commission.

Musk, the largest shareholder before the IPO, is also co-founder of Tesla Motors and founder and CEO of SpaceX. He made his fortune as a co-founder of PayPal.

Both SolarCity and Tesla, which makes electric cars, have received federal loan guarantees from the U.S. Energy Department.

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