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Tesla Stock is About to Get Much Cheaper

Coming in the heels of information made public by American automotive company, Tesla, the company’s stock is on the verge of becoming cheaper and more affordable.

The company has announced that its board approved a 3-for-1 stock split, which marks its first split since August 2020.

This split would, however, need to be approved by shareholders at the company’s annual meeting in August 2022.

Tesla (TSLA) closed Friday at a little over $696 per share. If the split were to happen today, its stock would be worth $232 a share.

Companies split their stocks for numerous reasons: Splits can put their stock within the reach of smaller, individual investors. By extension, this helps companies gain liquidity and splits can create more demand for a company’s stock.

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