Tesla, the electric vehicle giant completed a three-for-one stock split on Thursday, dropping share prices from nearly $900 to $302. Tesla’s latest three-for-one split means that stockholders will get two additional shares for each share that they owned. This is Tesla’s second stock split in two years, intended to attract a new and diverse investor base by making Tesla shares more affordable, but without affecting existing shareholders. Tesla’s last stock split on a 5 for 1 basis, was implemented in August 2020. Earlier in March 2022, Tesla first announced the split and follows similar moves from other tech companies like Amazon and Alphabet, Google’s parent company. Tesla shares which debuted at $17 in 2010, rose more than $1, 200 after the stock split in 2020, taking the company’s market capitalization above $1 trillion late last year. A stock split is a way for a publicly traded company to alter its share pride and outstanding share count without impacting its market cap or operations.
