A 3-for-1 stock split is now being implemented by Tesla.
After the stock split, shareholders will have more shares in their portfolio.
The EV giant is currently preparing to divide its shares twice after the market closes on August 24.
Before the stock split, a Tesla share was trading nearly at $900(today it's $870 ); after the stock split, you'd have three Tesla shares worth $300 each.
The price of Tesla stock has increased by about 9% in the last month, outpacing the S&P 500 as a whole.
Despite a challenging operating climate, Tesla reported better-than-expected Q2 2022 numbers last month.
To reach $16.9 billion, Q2's total revenues increased by 42% from the same period in 2017.
Tesla stock is likely to increase during the upcoming month by 62% based on past performance, according to Forbes.
A stock split is not regarded as a taxable event even though you may have additional shares in your account.
If you sell your additional Tesla shares, you might have to pay taxes.