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.
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.