news 1 month ago
Tesla Up 7% After Stock SplitWochit Postables
On Wednesday, Tesla stock rallied as much as 7% in early trading. According to Business Insider the boost comes after the company revealed a five-for-one stock split scheduled for August 28. Every Tesla shareholder will receive four additional shares that, when added to their existing share, will equal the stock's pre-split value. The split itself won't change Tesla's market cap. However, it may pull in smaller investors who couldn't previously afford shares. The stock closed above $1,370 per share on Tuesday.