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HomeBusinessTesla Approves Five For One Stock Split

Tesla Approves Five For One Stock Split

If Tesla’ stock price was to remain the same until the end of the month, it will be trading at around $300- $400 per share after the stock split.

Tesla (NASDAQ:TSLA) has approved a five-for-one split to make stock ownership more accessible to employees and investors. Each stakeholder of record on August 20 will receive a dividend of four additional shares that will begin trading on a stock split August 31.

Stock splits have become rare on Wall Street in recent years, with just three S&P 500 components announcing splits in 2020, compared with an average of 10 a year over the past decade, according to S&P Dow Jones Indices.

Tesla in July posted a second-quarter profit as cost cuts and strong deliveries helped offset coronavirus-related factory shutdowns, clearing a hurdle that could lead to the  carmaker’s inclusion in the S&P 500 index.

Elon Musk has also criticized Tesla price as to high.

Last week Apple (NASDAQ:AAPL) announced a 4-for-1 split also. as well as criticism from Elon Musk that Tesla’s stock price was too high.

Photo by  Afif Kusuma  on  Unsplash

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