and promptly rallied as retail traders rushed to the stock. Tesla is following the iPhone maker's lead and should benefit from it, Wedbush analyst Dan Ives said in a Wednesday note.
"For Tesla given its strong retail base and growing appetite among investors around the story/overall [electric vehicle] demand, we believe this is a smart strategic move at the right time for the board to make," Ives said. The late-August split could serve as the latest booster for Tesla's already-lofty share price. The stock is up about 230% year-to-date, with investors' excitement growing around earnings beats, potential inclusion to the S&P 500, and strong vehicle deliveries amid the coronavirus pandemic. Tesla's current market cap establishes it as one of the world's most valuable automakers, despite its producing far fewer vehicles than legacy names such as VW or Toyota.
CEO Elon Musk hinted at the split on June 30, replying to a Twitter user that a stock split would be" " at the company's annual shareholders meeting. Tuesday's split announcement likely surprised some, as the meeting is scheduled for late September.Now read more markets coverage from Markets Insider and Business Insider:
World's greatest bubble is getting bigger and bigger. What will happen when it pops?
So, fractional buys of 5:1 split shares now? WHAT'S THE DIFFERENCE?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla to Enact 5-for-1 Stock SplitTesla Inc. said it would enact a 5-for-1 stock split after a share-price surge over recent months vaulted the electric-vehicle maker to the status of most valuable car company. Should split 10:1 to make it more affordable elonmusk Lo que sube artificialmente baja naturalmente........aviso para navegantes de Tesla.
Source: WSJ - 🏆 98. / 63 Read more »
Tesla announces five-for-one stock splitTesla shares rose more than 6% after the company announced its stock split. Shares are up more than 228% year to date. Basically nothing. Apparently this helps options traders, which I don’t recommend. But for the average investor it changes nothing when most brokerages now offer fractional shares. Today its worth around 250Buks. 250/5 =50 buks approx...Future, ore potential value, are unknown collect without orders. Its strictly driven buy brand, euforia and buying power. If it drops below 50 im buying nothing
Source: CNBC - 🏆 12. / 72 Read more »
Tesla Plans Five-For-One Split For Its Overheated SharesThe stock split is the first in the electric-car maker’s history as a public company–and not entirely unexpected. Very Good ! elonmusk SpaceX wef UN
Source: Forbes - 🏆 394. / 53 Read more »
Stocks making the biggest moves premarket: Brinker International, Tesla, Eastman KodakThese are the stocks posting the largest moves before the bell. When $TSLA splits will RobinHood's servers be able to handle the impact? It’s people eats people Tesla $TSLA is up 6.8% today. Here's why:
Source: CNBC - 🏆 12. / 72 Read more »
Wall Street is worried China will retaliate against companies like Apple and Tesla after TikTok banNew for subscribers: Wall Street is worried China will retaliate against companies like Apple and Tesla after TikTok ban Check out CNBCPro for a free trial. Pro no, we are not as crazy as trump Pro Good, stop doing business with commies stealing our IP. Pro No they wont. Smthing bigger ..
Source: CNBC - 🏆 12. / 72 Read more »