Just like Apple recently, Tesla has also decided to split the shares in the company, so that the price of a share will at least be lower for the time being. The maker of electric cars has announced this.
Each existing share is split into five new shares. "So that a stock becomes more accessible to employees and investors," Tesla said in the announcement.
Anyone who owns a Tesla share on August 21 will receive four more shares after the closing of the American stock exchange on August 28. That is on a Friday evening, trading in the new Tesla shares will start on Monday, August 31.
Apple announced at the end of July that it would split the very pricey shares for the first time since 2014. Apple shareholders received four shares in exchange for one.