San Francisco — Tesla is splitting its richly valued shares in a 5-for-1 exchange, a move designed to make the stock less expensive for individual investors after the company become the world’s most valuable automaker.
Each stockholder of record on August 21 will receive a dividend of four additional shares of common stock for each one they own, the electric-vehicle (EV) maker said on Tuesday in a statement. The shares, which have more than quadrupled since March to close above $1,600 in July, pared a gain of as much as 7% on Wednesday to trade up 4.8% to $1,440.63 in New York...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.