, a not entirely unexpected move given the rapid escalation in the share price this year and one that may push its top-heavy market cap even higher. approved a five-for-one split of Tesla’s common stock on Tuesday. Shareholders of record as of Aug. 21 will receive four additional shares, which are to be distributed after the close of Nasdaq trading on Friday, Aug. 28.
Trading of the split-adjusted shares starts on Monday, Aug. 31, theShares of the maker of Model 3 electric sedans and Model Y crossovers inexplicably surged throughout most of 2020, despite production and sales disruptions caused by the global coronavirus pandemic. That’s made Tesla the world’s most valuable automaker despite annual revenue and vehicle output that are a fraction of vastly larger rivals including Toyota Motor, General Motors and Volkswagen AG.
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