Tesla seeks investor approval for stock split
-
Loading... - Declan Buckley
- 29 Mar 2022
- 375 Views
- 0 Like
- 0 Comment
Tesla will seek investor approval to increase its number of shares to enable a stock split in the form of a dividend, the electric-car maker said today, sending its shares up 5% before the bell on Wall Street today.
The proposal has been approved by its board and the shareholders will vote on it at the annual meeting.
The stock split, if approved, would be the latest after a five-for-one split in August 2020 that made Tesla shares cheaper for its employees and investors.
Following a pandemic-induced rally in the technology shares, Alphabet, Amazon.com and Apple have in the recent past split their shares to make them more affordable.
Telsa, which debuted at $17 per share in 2010, is currently trading above $1,000.
Since the stock split in 2020, they have surged 128%, boosting the market capitalisation to above $1 trillion and making the company the biggest US automaker by that measure.
Tesla's electric cars are among the most sold and it has delivered nearly a million cars annually, while ramping up production by setting up new factories in the US and Europe. Read More...
