Your Page!

Heading 2

Heading 1

Heading 3

Heading 3

Heading 3

Tesla stock pops after stock split plans disclosed

Your Page!

EV maker discloses plan to ask for shareholder approval to boost shares outstanding

Your Page!

In an 8-K filing with the Securities and Exchange Commission, the business TSLA 7.82 percent stated that it will seek shareholder approval for an increase in the number of shares outstanding

Your Page!

The request will be made in October 2022. The stock rose 5.9% in morning trade, aiming for its best finish since Jan. 12.

It lost 0.3% on Friday, ending an eight-day winning streak. Tesla may halt manufacturing in China because to new COVID-19 lockdowns, according to reports.

Your Page!

On Jan. 31, Tesla had 1.033 billion shares. In its proxy statement for 2021, the business indicated it can issue up to 2 billion shares.

The company's only other stock split occurred on August 31, 2020, with a 5-to-1 split. At the time, the stock was selling for around $2,213 before the split.

Your Page!

The shares ended at $498.32 on Aug. 31.To get the stock price down to that level, Tesla would have to issue more than 1 billion shares, allowing for a 2-for-1 split.

Your Page!

It would need more than 3 billion authorized shares to equal the previous 5-for-1 split.

To Read The FUll Story Click Here

To Read Full Story Click the Button Below

Click Here