Tesla just announced a five-for-one stock split — here's what that means for investors.
Tesla shares rose more than 6% in post-market trading even though the stock split changesabout the stock. Theoretically, the move could mean more smaller investors could afford the stock, but those investors are minuscule compared to major institutions. What's more, most brokerages offer fractional trading now anyways, allowing small traders to buy a slice of expensive stocks.Shares of Tesla have more than tripled so far this year, and are up 228.54% year-to-date.
, when it reported its fourth straight quarter of profits, which qualified it to join the S&P 500. Tesla is currently 23.43% below its all-time intraday high of $1,794.99, which it hit on July 13.
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