Shares of electric vehicle maker Tesla (TSLA) begin trading today (August 25) on a 3-for-1 split
adjusted basis.
Tesla shareholders will get two additional shares for each one they already own, and the stock
will open trading today at $297.10. The stock had been trading slightly above $890 a share prior
to the split.
Shareholders voted to approve the 3-for-1 stock split at Tesla’s annual meeting held on August
4 in Austin, Texas.
This is the second time in two years that Tesla has split its stock. The company last split its
stock on a 5-for-1 basis in August 2020.
In a proxy filing proposing the latest split, Tesla wrote that the move is intended to help the
company “offer every employee the option of receiving equity,” and help Tesla “reset the market
price” of its common stock.
Tesla’s stock has declined 25% so far this year.
