Tesla explains the strategy 

for its 3:1 stock split

Tesla announced yesterday

 that it plans to execute a 3:1 stock split sometime after its Shareholder Meeting on August 4.

Its last stock split, which occurred

 in August 2020, made shares more affordable for young and retail investors after the automaker’s stock price had ballooned to $2,213.40.

But the company’s purpose

 for the 3:1 stock split is slightly different, and is more focused on the employees

Tesla said its next stock split

 “would help reset the market price of our common stock so that our employees will have more flexibility in managing their equity

Tesla is amongst the most

 attractive places to work due to its employee equity programs, which include the Employee Stock Purchase Plan (ESPP).

This allows Tesla

employees to purchase shares of the company’s stock at a discounted price.

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