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28 Mar 2022

Tesla Shares Surge amid Talks of Second Stock Split in Two Years

The Index Today

Tesla Inc. shares rose during early trading after the company announced its intention to obtain shareholder authorization to carry out its second stock split in nearly two years.

According to Bloomberg News, Tesla announced early on Monday via a tweet its intention to seek shareholder approval for the stock split at its annual meeting. Following this, the automaker’s shares soared by up to 6.5% to $1,076.12 during premarket trading by 8am ET.

In its regulatory filing, Tesla revealed that while its board members endorsed the plan, it is yet to gain the final ascent pertaining to stock dividends. This comes after other tech companies including Amazon.com and Alphabet Inc. unveiled their respective stock splits earlier this year in order to make their shares more economical and accessible to their retail investors.

©Photo: Financial Times

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