Tesla (NASDAQ: TSLA) has announced the date for its annual shareholders' meeting. In addition to various details, the manufacturer has filed for another stock split—this time 3-1—which will make shares more affordable to retail investors.
On June 10, Tesla filed with the US Securities and Exchange Commission (SEC) about the date and details of the annual shareholder meeting. The company will host it on August 4, 2022, at 4:30 p.m. Central Time, both virtually via the Internet and in-person to a limited number of shareholders at Gigafactory Texas. Since there are many people who want to attend the event in person, Tesla will hold a random drawing. If you were a registered shareholder or beneficial owner as of June 6, 2022, you can apply for this draw.
In a statement, Tesla also announced that it would ask shareholders to approve a stock split after teasing the move earlier this year. The manufacturer will hold a shareholder vote to allow a 3-for-1 split of its common stock. The company indicated that its share price has risen about 40% since the last stock split and said it believes another split would “help reset the market price,” which will make them more affordable to retail investors and give employees greater flexibility in managing their capital.
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