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Thndr Claps » U.S. Claps » Nasdaq 🔔 » Tesla stock jumps following stock-split announcement🚗

Tesla stock jumps following stock-split announcement🚗

by Shams Abbas
March 28, 2022

The Clap
Tesla announced it is seeking shareholder approval to split its shares, which led to a surge in its shares.

Details
Tesla’s board of directors (BoD) already approved it, & will hold a shareholder vote on the proposal at its annual meeting. Shares of the company jumped almost 6% yesterday on the news.

Tesla is following in the footsteps of Amazon & Alphabet, which have both split their stocks in recent months.

Why this matters
Stock splits increase the total number of shares without changing the company’s capital, making the share price cheaper & more accessible to retail investors.

This isn’t Tesla’s first stock split. The company last announced a 5-for-1 stock split back in 2020. Since then, Tesla’s stock has more than doubled in value.

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