Tesla is splitting its richly valued shares in a 5-for-1 exchange, a move designed to make the stock less expensive for individual investors after the company become the world’s most valuable automaker.
The split aims to capitalise on and support Tesla’s recent surge, which has pushed its market capitalisation to more than $256bn, exceeding the value of Toyota and Ford combined. The huge rally for the shares has priced them out of reach for some smaller retail investors just as the EV industry is capturing their imagination.
Apple announced a 4-for-1 stock split after the close on July 30 and retail traders have piled in to bet on further gains. Tesla will start trading on a split-adjusted basis on August 31.Tesla has been a favourite stock for day traders and other retail investors lately. At one point in July, nearly 40,000 Robinhood account holders added shares of the carmaker during a four-hour span. The surge has been a boon to other EV companies, some of which have yet to actually produce a vehicle.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World stocks are fairly static as gold goes on a wild rideEuropean stocks stood their ground as US gridlock on a stimulus deal dented share prices there, and Turkey’s lira takes a pounding
Source: BDliveSA - 🏆 12. / 63 Read more »
LETTER: Decisions on SAA just do not flyWhile other airlines negotiate for cheaper leases, ours wants to buy expensive aircraft
Source: BDliveSA - 🏆 12. / 63 Read more »
Kamala Harris: A giant leap for humankindJoe Biden's choice of running mate shows that democracy in the US has become more representative
Source: BDliveSA - 🏆 12. / 63 Read more »
Kamala Harris: A giant leap for humankindJoe Biden's choice of running mate shows that democracy in the US has become more representative
Source: BDliveSA - 🏆 12. / 63 Read more »
André de Ruyter to speed up Eskom splitSplitting Eskom into subsidiaries for generation, transmission and distribution is seen as key to restructuring the energy sector
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »