Will the promise of a stock split in Tesla 'bullish' investors on Wall Street?

Posted on
30 March 2022
By
iqtidar ali

Tesla recently issued an official notice regarding the upcoming stock split decision later this year. Tesla aims to ask its shareholders to voice their opinion about another stock split at its 2022 annual shareholders meeting.

Red Tesla Model Y at Tesla Store.

Above: Model Y at Tesla Store (Source: EVClicks.co.uk)

“Tesla will ask shareholders to vote at this year’s annual meeting to authorize additional shares to enable the stock split,” the Austin-based automaker said. on twitter This week, However, this is certainly a forward-looking statement from Tesla and if the company’s shareholders do not accept it, the 2022 TSLA stock split will be closed.

Many Tesla investors are viewing the automaker’s move as “bullish” in light of past events. Tesla stock split for the first time Back in 2020. This made the purchase of TSLA shares more affordable — especially for retail investors. In turn, the share price increased between the time of the announcement (August 11, 2020) and when it took effect (August 31, 2020).

Looking back, the pre-split TSLA share price was $2,213.40 when it closed on Friday, August 28, 2020. After a five-for-one stock split, the price was adjusted to $442.68.

Above: Tesla’s 8K filing for a 2022 stock split (source: SEC)

Tesla announced its intention to split the stock this year following final board and stockholder approval in its 8K filing with the SEC (see above), noting the potential “for an increase in the number of authorized shares of common stock” .

Tesla shares rose sharply after the news — at the market close of Monday, March 28, TSLA’s share price reached $1,091.84 on the NASDAQ — an increase of +81.20 (8.03%) compared to Friday’s market close.

Wedbush analyst Dan Ives thinks news of an upcoming Tesla stock split in 2022large scale catalyst“For the stock price in the coming weeks and months.

Above: Wedbush analyst calls Tesla’s move ‘a problem with the high-class four-digit stock’ ,youtube: yahoo finance)

For the past two years, Tesla’s annual shareholders’ meeting has been delayed mainly due to the COVID situation. However, historically, these meetings have mostly taken place in the month of June (as noted by Troy Teslike/Marquez) via twitter,

That said, there are no imminent hurdles this year, so the most likely date for the 2022 Tesla shareholder meeting is expected to be the first week of June.

At that point, we’ll see if the stock split vote has the same impact as the prior times within the company. If so, it could be viewed positively on Wall Street.

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written by: iqtidar ali, An earlier version of this article was originally published by Tesla Oracle. Revised Update. edited by Evanex.

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