Tesla’s hot stock drives huge buy-in from market funds — maybe too huge

NEW YORK – Tesla’s stock run-up of more than 66 percent for the year is prompting some funds to make an outsized bet on the electric car maker. This, as Tesla is burning through cash trying to ramp up Model 3 production, is seeking $1.5 billion through a junk bond offering, and even company founder Elon Musk said the stock was overvalued, back in May when it was around $300 a share.