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21.08.2020

Tesla’s stock surge past $2,000 for the first time

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The company’s stock split is set to happen on August 28

Stocks impacted: Tesla (TSLA)

The eco-friendly car maker’s shares rose to fresh all-time highs above the $2,000 handle on Thursday, extending the rally ahead of an expected 5 to 1 stock split announced earlier this month. Stocks are now up 40% since announcing the stock split. Tesla’s stock split is set to happen on August 28. Following the event, Tesla shareholders are going to have 5 shares for every share they held on the next Monday but the stock is going to trade at 1/5 of its value. There are other drivers that push the company’s stocks higher this year. They are profitable quarters, strong vehicle-delivery results, and eligibility for inclusion in the S&P 500 index. Tesla stocks rallied 6.56% overnight, finishing above the $2,000 threshold.

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