Have you looked at Tesla stock recently? The stock is down 5% today to 166. It was 250 at beginning of year, so dropped 30%. The peak was 400 in 2021, and dropped to 113 in 2023.

I think it is still overpriced and can drop further, but it has lost its shine. They will make less money from offering, and it would probably tank the stock. And there is no sign they need the money.