6/10/2022, 10:29 PM (Source: TeleTrader)
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Tesla board proposes 3-for-1 stock split

Tesla Inc.'s Board of Directors revealed on Friday it plans a 3-for-1 stock split "in the form of a stock dividend."

"We believe the Stock Split would help reset the market price of our common stock so that our employees will have more flexibility in managing their equity, all of which, in our view, may help maximize stockholder value. In addition, as retail investors have expressed a high level of interest in investing in our stock, we believe the Stock Split will also make our common stock more accessible to our retail shareholders," the board said in a document filed at the United States Securities and Exchange Commission (SEC).

Larry Ellison, the co-founder, executive chairman and chief technology officer of Oracle Corporation, will leave the Tesla board when his term expires later this year, it was also revealed in the filing.

Baha Breaking News (BBN) / MS