Tesla Motors, a Silicon Valley-based electric vehicle innovator is slated to sell $244 million of stock in an IPO on June 29. While Tesla is clearly one of the most exciting companies in an industry that is almost certain to explode (alternative fuel vehicles), the timing of this sale does not seem to benefit investors.

Electric-car maker Tesla Motors Inc. is scheduling its initial public offering to trade on June 29, and hopes to raise as much as $178 million through the de...