tesla annual shareholder meeting 2022
Tesla Inc (TSLA.O) will seek investor approval to increase its number of shares to enable a stock split in the form of a dividend
The proposal has been approved by its board and the shareholders will vote on it at the annual meeting
The stock split, if approved, would be the latest after a five-for-one split in August 2020 that made Tesla shares cheaper for its employees and investors.
"This (stock split) could further fuel the bubble in Tesla's stock that has been brewing over the past two years," said David Trainer, Chief Executive of investment research firm New Constructs.
Tesla has delivered nearly a million electric cars annually, while ramping up production by setting up new factories in the Austin and Berlin amid increasing competition from legacy automakers
"We think Berlin ramping, and both the MiniCar and India are on the horizon, we would agree with the timing," Roth Capital analyst Craig Irwin said
Tesla sees share price jump after revealing plans for another stock split
Meanwhile, Tesla on Monday notified its suppliers and workers that its Shanghai factory in China will be closed for four days as the financial hub