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Tesla stock soars 7% on 5-to-1 stock split news – MarketWatch

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Shares of Tesla Inc.
TSLA,
-3.11%
surged more than 7% in the extended session Tuesday after the Silicon Valley car maker said its board has approved a five-for-one split of the company’s common stock “in the form of a stock dividend to make stock ownership more accessible to employees and investors.” Each shareholder 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 the close on Aug. 28, the company said…

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