The company announced a 3-for-1 stock split, its first split since August 2020. Tesla closed Friday at a little over $696 per share. If the split were to happen today, its stock would be worth $232 a share.
The company announced Friday that its board approved a 3-for-1 stock split, its first split since August 2020.The split would need to be approved by shareholders at the company's annual meeting in August.Tesla closed Friday at a little over $696 per share. If the split were to happen today, its stock would be worth $232 a share.Don't worry, Tesla stockholders -- your stakes will still be worth the same. You'll be holding three times more shares when all is said and done.
It may have planned to have a bigger share split had it not fallen so much.This year as Big Tech and the broader market have taken a beating from inflation and higher interest rates. But Tesla, in particular, has struggled this year in part because of CEO Elon Musk's attempt to leverage his massive Tesla stake to purchase Twitter. He even sold $8.5 billion worth of Tesla shares to raise cash to be used towards the purchase, which helped put downward pressure on Tesla share price.
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