Tesla’s stock has risen over 30% since announcing the proposed stock split in June. Tesla first announced the proposed 3:1 stock split in June as a way to make the $925 stock more affordable; based on today’s closing price the new share price would be around $308. Though the stock is down roughly 20% this year amid the wider market selloff, billionaire Elon Musk’s electric vehicle maker has still seen its shares surge more than 200% since the last stock split in August 2020. Tesla shares are up over 30% since announcing the 3:1 split in early June, while news of Tesla’s 5:1 stock split roughly two years sent shares over 70% higher in the 20 days following the announcement. Several other major tech companies have announced stock splits this year and saw subsequent spikes in their share price; Google-parent Alphabet’s split 20:1 in February and Amazon’s stock split 20:1 split one month later.

Source: Forbes August 05, 2022 15:39 UTC