Tesla to seek shareholder approval for stock split; shares surge

Published by
Reuters UK

By Nivedita Balu and Akash Sriram (Reuters) – Tesla Inc will seek investor approval to increase its number of shares to enable a stock split in the form of a dividend, the electric-car maker said on Monday, sending its shares up about 5%. The plan came as the company suspended its Shanghai factory amid COVID-19-related lockdown measures and its artificial intelligence head took a sabbatical as the company aims to achieve full self-driving capability this year. The proposal, first announced on Twitter, has been approved by its board and shareholders will vote on it at an annual meeting. The sto…

Read More