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Tesla announces 5 for 1 share split after share rally Updated: 2020-08-12 17:00:47 KST

Tesla's stock jumped as much as 8.4 percent in after-hours trading Tuesday after the company announced a five-for-one stock split, set to go into effect on August 31st.
After the close of regular trading Tuesday, the world's most valuable automaker announced that each shareholder of record on August 21st will receive four additional shares of common stock for each share.
Tesla's stock, which traded at 14-75 after the announcement, is among the highest priced on Wall Street, and the Palo Alto based company said it was looking to make its shares more accessible to employees and investors.
Tesla's stock has surged over 2-hundred percent this year while shares of General Motors and Ford Motor declined on fallout from the coronavirus pandemic.
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