Late on Thursday, Tesla’s shareholders approved a three-for-one share split, which would make the share more attractive for investors.
The stock split will lower the price to approx. USD 300 per share, but Tesla has yet to announce when it will take effect, writes Bloomberg News.
The split was first reported in a tweet on March 28, with the share price sliding until late May. It has since rebounded, increasing in value by 47.4%.
This will mark the second share split in less than two years following a previous five-for-one split in 2020.
Tesla’s share price appreciates by 0.84% in pre-market trading.