Comprehensive up-to-date news coverage

HomeNewsTesla shares in the limelight as 3:1 stock split begins

Tesla shares in the limelight as 3:1 stock split begins

Published on

Follow us on Google News for latest updates and information.

News Tech: Aug 25 (Reuters) – Tesla Inc’s (TSLA.O) shares take center stage on Thursday after the world’s most valuable automaker split its stock for the second time in as many years to woo more retail investors.

“Tesla knows it needs to retain its clout with the retail crowd, especially after this past year-plus of retail investors flexing their muscles,” said Callie Cox, analyst at trading and investment platform eToro.

Shares of the electric-car maker rose 1.5% to $301.5 in premarket trading. The stock closed at $891.29 on Wednesday before the three-for-one split took effect.

Tesla’s shares have fallen about 11% since the company announced in March plans to increase its number of shares and are trading nearly flat so far this month.

Tesla had split its stock on a five-for-one basis in August 2020.

A stock split does not affect the fundamentals of a company, but makes it easier for individual investors looking to do small trades. However, the benefits of stock splits are becoming less clear as brokerages let customers buy parts of a company’s share. Tesla shares, which debuted at $17 in 2010, rose to more than $1,200 after the stock split in 2020, taking the company’s market capitalization above $1 trillion late last year.

However, the shares have fallen about 16% this year as worries over aggressive U.S. interest rate increases and geopolitical uncertainty triggered a sell-off in high-growth stocks. Tesla’s latest three-for-one split means that stock holders will get two additional shares for each share that they owned as of Aug. 17.

RegisterReporting by Akash Sriram and Medha Singh in Bengaluru; Editing by Sriraj Kalluvila Source: Reuters Trust Principles.

Learning Tips!

Loading RSS Feed

Latest articles

Bengaluru FC have signed a two-year deal with Parimatch News

News Tech: Sports, E-sports, Entertainment and Analytics Platform to have naming rights on...

Wimbledon champion Rybáková defeated Keys in the opening match in Ostrava

News Tech: Wimbledon champion Elena Rybakova came from a set down to defeat...

Gutted not to be part of T20 World Cup: Bumrah

News Tech: Jasprit Bumrah. (Photo- BCCI Twitter)...

Chris Pratt and Katherine Schwarzenegger flaunt some sweet PDA over lunch

News Tech: Chris Pratt and Katherine Schwarzenegger flaunted some cute PDA during their...

More like this

Bengaluru FC have signed a two-year deal with Parimatch News

News Tech: Sports, E-sports, Entertainment and Analytics Platform to have naming rights on...

Wimbledon champion Rybáková defeated Keys in the opening match in Ostrava

News Tech: Wimbledon champion Elena Rybakova came from a set down to defeat...

Gutted not to be part of T20 World Cup: Bumrah

News Tech: Jasprit Bumrah. (Photo- BCCI Twitter)...

Chris Pratt and Katherine Schwarzenegger flaunt some sweet PDA over lunch

News Tech: Chris Pratt and Katherine Schwarzenegger flaunted some cute PDA during their...

Iran said it had launched a test “thrust” into suborbital space

News Tech: TEHRAN, Iran (AP) — Iranian state media said Tuesday the government...

Domestic help arrested for murder of JK DG (Prisons) Hemant Lohia

News Tech: A 23-year-old working as a domestic help was arrested on Tuesday...

Home minister warns Adipurush makers of legal action over ‘incorrect’ depiction of Hindu deities

News Tech: Madhya Pradesh Home Minister Narottam Mishra on Tuesday warned the makers...

Three others were arrested in connection with the Arunachal paper leak case

News Tech: Three more people were arrested in connection with the Arunachal Pradesh...

Edelweiss arm aims to raise $1 billion in third distressed asset fund

News Tech: Edelweiss Alternative on Tuesday said it is targeting to raise USD...

UP: 2 minors drown while swimming in a pond

News Tech: Two minor siblings drowned in a pond in Kamta Bujurg village...

“Your Christmas Or Mine” will stream on Prime Video starting December 2

News Tech: British comedy movie ”Your Christmas Or Mine” will premiere on Prime...

Maha government to open 700 health clinics named after Sena founder Bal Thackeray

News Tech: Maharashtra Chief Minister Eknath Shinde on Tuesday said the government will...

Cardiology Unit to be set up in Bangla Sahib Dispensary

News Tech: The Delhi Sikh Gurdwara Management Committee (DSGMC) will soon start a...

Sphiticap launches first venture capital fund of USD 500 million

News Tech: India-focused venture capital fund Sphiticap has launched its maiden fund with...

Center Approves Amendments to FM Phase III Private Guidelines

News Tech: The Centre has amended the policy guidelines for the expansion of...

India’s position in Global Innovation Index has improved: President Murmu

News Tech: President of India Droupadi Murmu...

Saturday marks the start of fall turkey hunting season in West Virginia

News Tech: FARMINGTON, W.Va. (AP) — West Virginia’s fall hunting season for wild...

OBC quotas for municipal polls in Bihar illegal: Patna HC

News Tech: The Patna High Court on Tuesday ordered that the reservation of...