Tesla seeks 2nd stock split in less than 2 years
ABC News
Shares of Tesla are up sharply 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.
