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Summary:
The latest megacap firm to split its highly priced shares this year in an effort to make them more accessible to investors is Tesla Inc. TSLA 1.48%, which will do so this week. Although stock splits have been less common over time, Google parent Alphabet Inc. and Amazon.com Inc. will both split their shares in 2022. Investors frequently view such plans as management expressing confidence. Tesla's stock has increased by nearly 25% since the electric vehicle manufacturer revealed plans to split its stock on June 10. At their annual shareholders meeting on August 4, shareholders approved the stock split, and on August 5, the automaker announced the split's details. In spite of the surge, Tesla shares are down about 18% so far this year as investors reevaluated highly valued growth businesses in response to rising interest rates.
On August 24, Tesla will split its stock. As of August 17, shareholders will get what amounts to a dividend of two extra shares for every share they now hold. On a split-adjusted basis, trading will begin on August 25.
TSLA Price Chart
Sources: finance.yahoo.com
