Electric automobile Tesla is Having a stock split This month
Electric automobile Tesla (TSLA) has confirmed their forward 3-for-1 stock split and the stock dividend is coming on August 24th.
shareholders of EV maker voted on a proposed 3-for-1 stock split and approved it with a substantial majority of over 815 million shares for and just 9 million shares against
the stock split will take place on August 24 for all shareholders of record on August 17, 2022
Trading will begin on a stock split-adjusted basis on August 25, 2022
Tesla’s last stock split dated back to 2020. At the time, Tesla’s stock was trading at around $1,300 a share, but the stock-split announcement sent its stock price surging to a record high of $2,000 a share.
The split resulted in the price per share being reset at around $460 and a valuation of about $430 billion. The stock grew quite fast following the 5-for-1 split with Tesla, roughly doubling its valuation over the next year.
Now the automaker is doing another stock split for a 3-for-1 instead of 5-for-1 while the stock trades at $864 a share at today’s market close.
The approval of the new stock split hasn’t helped the stock so far with Tesla being down 6% today.
However, the impact of the previous split was mostly felt over the months after the stock dividend was issued.
