Shares of Tesla jumped at the opening bell Monday after the electric car maker announced its second stock split in less than two years.
NEW YORK — Shares of Tesla jumped at the opening bell Monday after the electric car maker announced its second stock split in less than two years. The company said in a regulatory filing, and also in a tweet, that it plans to make a request at an upcoming annual shareholders meeting to increase its number of authorized shares so that it can split the stock in the form of a dividend. It did not say when a split would occur or the ratio of such a stock split, but it would follow similar maneuvers by a trio of tech companies that have seen their shares soar in recent months. Tesla’s shares are up more than 60% over the past year, with each costing more than $1,000. And the company is growing. CEO Elon Musk opened Tesla’s first European factory last week, a “Gigafactory” in Germany that will employ 12,000 people and produce 500,000 vehicles a year.
