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    TSLA   US88160R1014

TESLA, INC.

(TSLA)
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Delayed Nasdaq  -  04:00 2022-08-17 pm EDT
911.99 USD   -0.84%
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Tesla sets Aug 25 as trading day for three-for-one split shares

08/05/2022 | 05:12pm EDT
FILE PHOTO: The logo of car manufacturer Tesla is seen in Bern

(Reuters) - Tesla Inc said on Friday trading in its three-for-one split shares will start on Aug. 25, after the electric vehicle maker's shareholders approved the proposal during its annual meeting.

Shareholders of the EV maker voted for board recommendations on most issues at the company's annual meeting on Thursday, including re-electing directors, approving a stock split, while rejecting proposals focused on environment and governance.

Chief Executive Elon Musk owns 15.6% of Tesla, according to Refinitiv data, after selling millions of shares last year.

Each stockholder of record on Aug. 17 will get a dividend of two additional shares for each share held, to be distributed after close of trading on Aug. 24, the company said.

The new share split comes two years after a five-for-one split helped bring down the price of the high-flying stock within the reach of ordinary investors.

While a split does not affect a company's fundamentals, it could buoy the share price by making it easier for a wider range of investors to own the stock.

Tesla shares, which debuted at $17 apiece in 2010, rose to more than $1,200 late year after the 2020 stock split, taking the company's market capitalization above $1 trillion.

Tesla shares, which ended 6.6% lower on Friday, are down about 18% this year.

At the Thursday meeting, shareholders narrowly approved an advisory proposal that would increase investors' ability to nominate directors, with 339.2 million votes for the proposal and nearly 319 million votes against it.

Shareholder proposal asking Tesla to report its efforts in preventing racial discrimination and sexual harassment annually was rejected, with 350.7 million votes against it versus 310 million votes for the proposal.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Maju Samuel)


© Reuters 2022
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Analyst Recommendations on TESLA, INC.
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Financials (USD)
Sales 2022 84 861 M - -
Net income 2022 12 525 M - -
Net cash 2022 19 851 M - -
P/E ratio 2022 86,4x
Yield 2022 -
Capitalization 953 B 953 B -
EV / Sales 2022 11,0x
EV / Sales 2023 7,76x
Nbr of Employees 99 290
Free-Float 82,8%
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Mean consensus OUTPERFORM
Number of Analysts 37
Last Close Price 911,99 $
Average target price 912,28 $
Spread / Average Target 0,03%
EPS Revisions
Managers and Directors
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin & Chief Financial Officer
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
James Rupert Murdoch Independent Director
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