Tesla plans a 3-way stock split to lower the price of its shares

TeknikalRaman

Money & Finance

POSTED BY: Ranjeet Kumar PUBLISHED: 10th July, 22

Tesla shareholders would receive two more shares of common stock on that date if the stock split went into effect.

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run by Elon Musk A three-way stock split proposed by Tesla would lower the price per share of the company.

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Since the company's most recent stock split in August 2020, Tesla stock has increased by 43.5%.

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The company stated in a new US SEC filing late on Friday that the "principal aim of the Authorised Shares Amendment 

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is to permit a 3-for-1 split of our common stock in the form of a stock dividend." Elon musk announced in recent board meeting

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According to the electric car manufacturer, there are currently 2,000,000,000 authorised shares of its common stock

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which is inadequate to implement the stock split as of June 6, 2022, when there are 1,036,390,569 shares of outstanding common stock.

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Tesla shareholders would receive two more shares of common stock on that date if the stock split went into effect.

Credit : Pexels

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