Categories: Business

Tesla stock cracks 2000 dollar ahead of stock split

Photo: AP

tesla stock at record high

new Delhi. The stock of Tesla, a California-based electric vehicle company, closed above the $ 2000 level for the first time in Thursday's business. The company's stock is seeing steady growth before the split. The stock closed at $ 2002 a share, up 6.6 percent on Thursday. On August 11, Tesla approved the split of 1 stock into 5 stocks, after which the stock has gained up to 45%. The date for the stock split has been fixed for August 21.

Companies resort to split to bring down the level of share prices, thus reducing the price per share, which makes them more likely to buy into the realm of investors' buying capacity than ever before. An increase in the number of investors is also expected to lead to a strong stock purchase. However, this does not affect the company's own valuation because the number of shares also increases in the same proportion as the price of a share decreases.

On Thursday, Tesla's stock market value increased to $ 372 billion. Recently, the Chinese media has been quoted by sources that Tesla will start unloading the Model Y made in China in early 2021. Tesla's annual meeting is on 22 September Investors expect Tesla to make a major announcement. It is expected that on this day the company can announce any new innovation related to the battery. In which it is possible to announce the supply of more capacity batteries to the auto sector than before.

This post was published on August 21, 2020 11:15 am

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