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Tesla Stock TSLA Spikes Almost 13% After 5-For-1 Split, Becomes 7th Largest Market Cap US Company

by Eva Fox August 31, 2020

Tesla Stock TSLA Spikes Almost 13% After 5-For-1 Split, Becomes 7th Largest Market Cap US Company

Image credit: @vincent13031925 

Tesla (NASDAQ: TSLAshares rallied again on Monday as a stock split took effect, attracting more buying from investors. TSLA soared 12.6% in trading on Monday, accelerating the Elon Musk led manufacturer into the seventh-largest US company by market capitalization.

Trading at over $2,000 on Friday on a split-adjusted basis, Tesla's stock had among the highest price tag on Wall Street. Other companies with quadruple-digit stock prices included Amazon, at over $3,400, Google-parent Alphabet, at over $1,600, and Chipotle Mexican Grill, trading at over $1,300.

Tesla ended Monday's session with a $464.3 billion valuation, racing ahead of Visa Inc. (

$451.1 billion) for the first time and securing seventh place, according to Dow Jones Market Data.

 



Since the beginning of 2020, Tesla shares are up around 500%. In sharp contrast, the S&P500 is up 8% in the same time span.

 

 

Legal Disclaimer --

This article is for informational purposes only. You should not construe any such information or other material as an investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by Eva Fox, Tesmanian, or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.

Eva Fox holds zero share of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.





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