Earlier this summer, Tesla announced its intention to split its stock – a surprise to many since Tesla shares split just two years earlier. But shareholders obviously approved the additional split, as did Tesla’s board of directors, which officially approved the 3-to-1 split on August 5, 2022. That split is now just a week away, but today is an important date for those hoping to benefit from it, too. Here are all the critical dates you need to know about Tesla’s upcoming stock split:
- Wednesday, August 17, 2022: Anyone wanting to receive two extra shares for each TSLA share they own needs to be a shareholder of record by this date. If you own TSLA shares on August 17, one week later you will receive two additional shares for each you own.
- Wednesday, August 24, 2022: One week after the shareholder of record cutoff is when TSLA shares actually split. After the stock market closes on August 24, TSLA shares will split 3-to-1, and by the next morning shareholders of record will see three times the amount of TSLA shares in their portfolio.
- Thursday, August 25, 2022: This is the date trading of the split TSLA shares first takes place. Keep in mind, TSLA shares will begin trading at a price three times lower than their closing price on August 24 (because the split is 3-to-1). However, the overall market cap of Tesla will remain the same since there will be three times as many shares.
As for what Tesla’s new split adjust share price will be, we won’t know until next week. But if TSLA stock on August 24, 2022 is trading around what it is today (about $910 at the time of this writing), TSLA shares would open around $303 per share on August 25.