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Tesla Jumps on Plan to Seek Approval for Another Stock Split

  • Carmaker tweets first, issues regulatory filing later on plan
  • News overshadows Musk having Covid, idling of Shanghai plant
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Tesla Announces Shanghai Factory Suspension, Stock Split
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Tesla Inc. said it’s planning a second stock split in roughly two years, giving a lift to shares that had been trading lower on news Covid-19 is again disrupting operations.

In an oddly worded tweet early Monday, Tesla said it will seek shareholder approval to authorize additional stock to enable a split. In a follow-up regulatory filing, the company said increasing the number of its common shares will allow for a split by way of a dividend. The ratio of the split is one of the details that will be worked out later.