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

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

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By Claudia Assis

Shares of Tesla Inc. /zigman2/quotes/203558040/composite TSLA +2.95% 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. /zigman2/quotes/210599714/realtime SPX +1.63%

Read the full story:
Tesla’s stock run leads to 5-1 share split

/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 419.35
+12.01 +2.95%
Volume: 31.96M
Sept. 28, 2020 12:51p
P/E Ratio
1,090
Dividend Yield
N/A
Market Cap
$379.56 billion
Rev. per Employee
$439,627
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/zigman2/quotes/210599714/realtime
US : S&P US
3,352.24
+53.78 +1.63%
Volume: 1.05B
Sept. 28, 2020 12:51p
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