Shares of Tesla have hit another all-time high today, touching briefly at $2,092.12 per share. The surge comes as today is the last day for existing shareholders to qualify for the upcoming 5-for-1 stock split coming at the end of the month. It appears Tesla’s upward trajectory cannot be stopped.
When the 5-for-1 stock split happens, the cost of today’s shares will be divided by 5, resulting in a lower price per share of roughly $416, as of writing. If Tesla wants a split-adjusted share price of $420 (reference to the marijuana culture term) which CEO Elon Musk might favour, Tesla needs to reach at least $2,100 per share.
Tesla has soared 50% since announcing its stock split last week and its market cap ($387.7 billion) is now worth more than Walmart ($373.1 billion). If Tesla were part of the S&P 500 index, it would currently be its ninth biggest stock.
As of writing, shares of Tesla are trading at $2082.93 per share, up 4.05% for the day. Tesla is the Energizer bunny of stocks right now, as the price just keeps going and going and going up.
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