After Google, Amazon, and now Musk's Tesla, suggested a 3-for-1 stock split.

According to tweeter Tesla tweeted yesterday, every shareholder has a common opinion in our direction, including deciding on whether Tesla should be allowed to do a 3:1 stock split.

On August 4th, shareholders will vote on the plan during Tesla's annual meeting.

The shares increased by about 40% after the EV manufacturer's 5-for-1 stock split in August 2020.

The S&P 500 index SPX has dropped about 18% this year, or 0.90%, while Tesla shares have fallen 34%.

Tesla alone made nearly $3.3 billion in net profitability in Q1 of 2022.

Separately, the business confirms that Larry Ellison, the executive chairman of Oracle and a Tesla board member, is set to resign.

Fill in some text

To reach 4,000,000,000 authorized shares, Tesla Board is aiming to do so.

With a market cap of $720.49 billion as of July 2022, Tesla is the sixth most valuable corporation in the world.

Read More Stories

Burst
Curved Arrow

The stock splits mainly serve as symbolic gestures, but lower stock prices make stocks more accessible to a larger range of investors.