The electric-vehicle maker TSLA, -1.13% announced the split on Aug. 11, saying it would “make stock ownership more accessible to employees and investors.”
The stock is up 56% in August, which is shaping up to be its best month since May 2013 and its third best month on record.The stock rally has boosted the company’s market valuation to around $409 billion on Friday, and made it the eighth biggest company in the U.S. by market cap. Tesla’s market valuation places it between Dow Jones Industrial Average components Johnson & Johnson’s JNJ, +0.43% and Visa Inc. V, +2.21%.
The average share-price target on Tesla is $1,288.87, or around 42% below its latest pre-split level. Analysts at Deutsche Bank have called for General Motors Co. to spin off its electric-vehicle operations and capabilities into a stand-alone company, “which could force the market to recognize its robust EV technology and coming [vehicle] lineup,” they said in a note earlier this month. GM was said to be considering the option.
Joining a major stock-market index would automatically get Tesla shares into the portfolios of thousands of index-tracking mutual funds, and send actively managed funds scrambling to catch up with it as well.
Monday will be a wild trading day....
We're gonna be rich 🤑🤑🤑
Tesla's market value continues to be sky high, because of the potential & prospects of the electric vehicle sector, together with gov. support. Necessitates a split as the stock becomes too expensive. Curious about details behind the growth? 👇 $tsla
J_O34
That it was all fixed am i right.