CNN: $TSLA's Latest Stock Split, Ellison Lea

CNN Business headline: Tesla stock is about to get much cheaper

David Goldman byline
By David Goldman, CNN Business

Updated 6:33 PM ET, Fri June 10, 2022

https://www.cnn.com/2022/06/10/investing/tesla-stock-split/i…

“We believe the stock split would help reset the market price of our common stock so that our employees will have more flexibility in managing their equity, all of which, in our view, may help maximize stockholder value,” Tesla said in a regulatory filing Friday. “In addition, as retail investors have expressed a high level of interest in investing in our stock, we believe the stock split will also make our common stock more accessible to our retail shareholders.”

Tesla announced plans for a split in March, but did not announce a ratio. On Friday it noted that its stock has risen 43.5% since its last stock split almost three years ago, although shares have tumbled 30% since it announced those split plans. It may have planned to have a bigger share split had it not fallen so much.

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Tesla also announced that Larry Ellison, the chairman of Oracle (ORCL) had decided to leave the board. Ellison has been on the Tesla board since December 2018.

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