Tesla Inc TSLA shares have been adjusted to reflect a 5-for-1 stock split from Friday's closing price of $2,238.75 to $442.68 ahead of the opening bell Monday.
That's why the stock is shown as being down 80.23% on Google.
The stock was trading 0.68% higher at $445.70 at the time of publication premarket Monday.
Tesla investors who owned the stock as of Aug. 28 received split shares in their trading accounts following the aftermarket close Friday.
Stock Splits: The stock split is expected to attract new investors. Stock splits are generally seen as a positive by the market. Stocks are often in a position to split only after an extended period of strong returns.
Once the price of a stock or fund gets too high, even single shares may become too expensive for small retail investors, limiting demand.
Related Links:
What Tesla Investors Should Know Ahead Of Stock Split
Elon Musk Talks Neuralink, Brain Stimulation And AI With Joe Rogan
Photo courtesy of Tesla.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
