Futu News reported on August 12. As of press release, Tesla rose 6.74% before the market to 1,467 US dollars.

Tesla announced on Wednesday that the company's board of directors has approved and announced a stock split plan that will split its common stock 1:5 in the form of a dividend, with the goal of making it easier for employees and investors to obtain the company's shares.

According to the announcement, every registered shareholder can receive a dividend of 4 additional common shares for each common share held by each registered shareholder as of August 21, 2020. This dividend will be distributed after the market closes on August 28, 2020. Tesla shares will begin trading on August 31, 2020 on the basis of the adjusted stock split.