Shares of Tesla jumped at the opening bell Monday after the electric car maker announced its second stock split in less than two years.
The company said in a regulatory filing that it plans to make a request at its upcoming annual shareholders meeting to increase its number of authorized shares so that it can split the stock in the form of a dividend.
It did not say when a split would occur or the ratio of such a stock split, but it would follow similar maneuvers by a trio of tech companies that have seen their shares soar in recent months.And the company is growing. CEO Elon Musk opened Tesla’s first European factory last week, a" [Most read] Column: Will Smith leaves this year’s Oscars audience shaken, rattled and as divided as ever. So much for escapism.“Given the stock’s meteoric run its not a surprise that Musk & Co.
Tesla had a 5-for-1 stock split in August 2020, which went into effect one day after the company announced that it up to $5 billion worth of its stock. Just three months later Tesla said that it was planning another stock sale, looking to raise up to $5 billion in that offering.
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