Tesla (TSLA) is following in the footsteps of Apple (AAPL) in its latest announcement for a five-for-one stock split. This news comes shortly have the electric vehicle manufacturer’s stock hit its record high price — it saw roughly 200-percent in growth since January.
The lowered price will not affect current investors but what stock splits do is allow for those that would like to own TSLA stock to buy in at a lower price than the current $1,374.39 single share price. Often seen during bullish conditions, Tesla’s push for more liquidity will “make stock ownership more accessible to employees and investors.”
In other business news, Tim Cook earns billionaire status as Apple nears $2 trillion USD market valuation.
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