Tesla Plans 3-1 Stock Split, Final Decision Up To Shareholders | Carscoops carscoops
Tesla’s stock has skyrocketed 837% in the past five years and that means its $696.69 price tag puts it out of reach for many small investors.
However, it could become more obtainable as the company has announced plans for a 3-for-1 stock split in a, the move would see the company issue four billion new shares of common stock with holders receiving three shares for each share they currently own. This move would help to lower Tesla’s stock price and the company noted the price has climbed 43.5% since their last stock split in August 2020.
Tesla’s board has already approved the move, but it’s adoption is contingent upon stockholder approval. The board is recommending that shareholders vote yes on the proposal and, if approved, the company would follow Amazon which had a 20-for-1 stock split earlier this week. In other news, the proxy statement revealed Tesla CEO Elon Musk holds 265,488,606 shares which represents a 23.5% stake in the company.
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