Tesla Files for a 3-for-1 Stock Split. Will It Fuel a Bounce?
@1moredrink:
CEO Elon Musk may be looking to light a bullish fire under poorly performing Tesla shares, but the move won't help much right now.Electric vehicle manufacturer Tesla (TSLA) could soon be joining the 2022 stock-split club that already includes Amazon, Alphabet, and Shopify. Paperwork filed with the Securities and Exchange Commission (SEC) late Friday reads that the company intends to increase its total number of authorized shares in order to "facilitate a 3-for-1 split of our common stock in the form of a stock dividend."This may result in a much-needed rebound effort from the stock. Shares are down more than 40% from their November highs, leading weakness being mirrored by many technology names, including the aforementioned Amazon and Alphabet. Both stocks per