Tesla Inc on Tuesday announced a five-for-one stock split of its common stock that goes into effect on August 21.
The move that could help smaller investors afford Tesla stock also it resulted in sending the electric carmaker’s recently high-flying shares up 7% in extended trade.
Tesla’s stock, which traded at $1,475 after the announcement, is among the highest priced on Wall Street, and the Palo Alto, California-based company said in a press release it was looking to make its shares more accessible to employees and investors.
