On September 1st, Tesla’s 1:5 stock split plan was officially implemented after closing last Friday. The split stocks began trading on Monday this week, and on the first day of the split, Tesla’s stock price rose sharply, closing up 3.3%, and Tesla’s market value has exceeded $460 billion.
On August 11th, Tesla announced the implementation of the stock split program and split the stocks in a 1:5 ratio. Shareholders holding Tesla stocks received additional split stocks after the close on August 28th, which began trading on August 31st, the following Monday.
At the close last Friday, Tesla’s closing price was $2,213.4. According to the split standards, each share will be reduced to $442.68. On Monday, the US stock market closed with Tesla at $498.32, up $55.64, or 12.57%, from $442.68. The first trading day after the split resulted in a rise in Tesla’s stock price, further increasing their market value. Calculated according to Monday’s closing price, Tesla’s market value is $464.339 billion.
Thanks to the soaring stock price, Elon Musk’s net worth reached $115.4 billion, making him the third richest person in the world, second only to Amazon’s Bezos and Microsoft’s Bill Gates.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email email@example.com.