Money Makers Mentor

Tesla Poised to Join S&P 500 with Five-for-One Stock Split

On August 11, 2020, Tesla Inc. (NYSE: TSLA) announced plans for a five-for-one stock split at the end of the month. According to the press release, the split will come in the form of a stock dividend for stockholders of record on August 21, 2020. Existing stockholders will receive four additional shares of common stock for each share held, to be distributed on August 28, 2020. Trading will begin on a stock split-adjusted basis on August 31, 2020.

The electric-car manufacturer’s average six-month market value now sits above $200 billion, having more than doubled since May. Tesla is now worth than Toyota Motor Corp., Volkswagen AG, and Hyundai Motor Co. combined.

Tesla’s already high stock price surged as much as 6% in after-hours trading on Tuesday, following the companies press …

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