(Bloomberg) — Tesla Inc. is splitting its elevated shares in a 5-for-1 exchange, a move timed to make the stock less expensive for individual investors after the company become the world’s most valuable automaker. Its shares surged on the news in aftermarket trading.Each shareholder of record on Aug. 21 will receive a dividend of four additional shares of common stock for each share, the Silicon Valley electric-car manufacturer said Tuesday. Trading will begin on a split-adjusted basis on Aug. 31.The split is a timely decision to capitalize on Tesla’s recent surge, which has pushed its valuation to around $256 billion, …read more
Source:: Yahoo Finance
