Tesla Announces a Three-for-One Stock Splitedited 07:39 PM

Now, the stock had fallen by 2.51% since the market closed for the week, trading at nearly $270.

A record-breaking Q2 of the year was anticipated by Tesla as production declined.

But some experts believe that Tesla's share could reach $360 next year.

Since the company's statement in late March, shares of the EV manufacturers had fallen by 12%.

With a five-to-one stock split, Tesla announced its second stock split in as many years as in August 2020.

The stock has lost 14% of its value so far this year, and it's on track to post its first yearly loss since 2016.

When trading on its split-adjusted basis started on August 31, 2020, Tesla's share price rose by almost 104%.

According to the aspirational CEO, Tesla will eventually have 10 to 12 gigafactories.

The CEO of Tesla predicts that the company will be able to build 40,000 cars per week by the end of the year.