Tesla stock (NASDAQ: TSLA) hit an all-time-high again, dealing a sharp, painful blow to the company's short-sellers. On Thursday, the stock rose more than 4% to hit $2003 per share.
Tesla's current rally began after the manufacturer announced a 5-to-1 split last week. Each stockholder of record on Aug. 21 will receive a dividend of four additional shares of common stock for each then-held share, to be distributed after close of trading on Aug. 28. Trading will begin on a stock split-adjusted basis on Aug. 31.
At the moment, Tesla's market capitalization is more than $372 billion.
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About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
