Investor Alert

Aug. 11, 2020, 5:10 p.m. EDT

Tesla stock soars 7% on 5-to-1 stock split news

Shares of Tesla Inc. (NAS:TSLA) surged more than 7% in the extended session Tuesday after the Silicon Valley car maker said its board has approved a five-for-one split of the company's common stock "in the form of a stock dividend to make stock ownership more accessible to employees and investors." Each shareholder of record on Aug. 21 will receive a dividend of four additional shares of common stock for each then-held share, to be distributed after the close on Aug. 28, the company said. Trading will begin on a stock split-adjusted basis on Aug. 31, Tesla said. The stock has gained 229% this year, compared with gains around 3% for the S&P 500 index. (S&P:SPX)

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Tesla’s stock run leads to 5-1 share split

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