{"id":18658,"date":"2022-03-28T12:04:29","date_gmt":"2022-03-28T16:04:29","guid":{"rendered":"http:\/\/autosector.com\/?p=18658"},"modified":"2022-03-28T12:04:29","modified_gmt":"2022-03-28T16:04:29","slug":"tesla-stock-split","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=18658","title":{"rendered":"Tesla plans second stock split in less than 2 years"},"content":{"rendered":"

NEW YORK \u2014 Shares of Tesla<\/a> rose sharply Monday after the electric car<\/a> maker announced its second stock split in less than two years.<\/p>\n

The company said in a regulatory filing, and also in a tweet<\/a>, that it plans to make a request at its upcoming annual shareholders meeting to increase its number of authorized shares so that it can split the stock in the form of a dividend.<\/p>\n

Shares jumped more than 5% at the opening bell.<\/p>\n

Tesla’s shares have rocketed higher in recent months and are up more than 60% over the past year. A single share now costs more than $1,000.<\/p>\n

And the company is growing. It opened its first European factory last week, a \u201c Gigafactory<\/a> \u201d in Germany that will employ 12,000 people and produce 500,000 vehicles a year.<\/p>\n

“Given the stock\u2019s meteoric run, it’s not a surprise that Musk & Co. are heading down the path of another stock split especially with robust EV demand and the build-outs of the flagship Berlin and Austin Giga factories now on a glide path,” said Dan Ives, who follows Tesla for Wedbush.<\/p>\n

Tesla said that its board has approved the proposal, but that the dividend is contingent on final board approval.<\/p>\n

Tesla had a 5-for-1 stock split in September 2020, which went into effect one day after the company announced that it planned to sell<\/a> up to $5 billion worth of its stock. Just three months later, Tesla said that it was planning another stock sale, looking to raise up to $5 billion in that offering.<\/p>\n

Tesla follows other tech giants that have seen the price of shares vault out of reach of most investors.<\/p>\n

\u201cWe view Tesla\u2019s move following the likes of Amazon, Google, Apple and initiating its second stock split in two years as a smart strategic move that will be a positive catalyst for shares going forward,\u201d Ives wrote in a research report.<\/p>\n

In a filing with the Securities and Exchange Commission, Tesla said it would include more information, including the date and place of its annual shareholder meeting, in an upcoming proxy statement.<\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK \u2014 Shares of Tesla rose sharply Monday after the electric car maker announced its second stock split in less than two years. The company said in a regulatory filing, and also in a tweet, that it plans to make a request at its upcoming annual shareholders meeting to increase its number of authorized […]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[3],"tags":[],"class_list":["post-18658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-design-concepts"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/18658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18658"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/18658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18658"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}