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Tesla Inc (NASDAQ: TSLA) has announced the 5 for 1 stock split on August 11 after the bell.
"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."
Analyst Daniel Ives from Wedbush believes this is a "smart strategic move at the right time" for the board to make. Ives thinks the demand for Model 3 will be stronger than expectations in China heading into August/September. Also there are some potentially "game changing" battery developments coming soon (Battery Day -- Sept 22), and he believes the stock likely has more room to run further.
Ives has a Neutral rating on Tesla stock (NASDAQ: TSLA), price target : $1,800 , bull case target: 2,500
