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Stock Alert: Tesla Rises 5% Following Stock Split

Shares of Tesla, Inc. (TSLA) are rising more than 5% Wednesday morning at $1,437.74. It has traded in the range of $211- $1,794.99 in the past 52 weeks.

Tesla on Tuesday announced a five-for-one stock split. The stock has soared over 200% this year so far.

Tesla said the stock split is in the form of a stock dividend "to make stock ownership more accessible to employees and investors".

Each stockholder of record on August 21, 2020, will receive a dividend of four additional shares, to be distributed after close of trading on August 28. Trading will begin on a stock split-adjusted basis on August 31.

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