Tesla Inc.  : At a price divided by 3, Tesla shares will be more accessible to investors and employees

Tesla Inc. : At a price divided by 3, Tesla shares will be more accessible to investors and employees


(BFM Bourse) – With a value of more than $900 per share, Tesla is preparing to make its share more widely available. The general meeting of shareholders of Elon Musk’s group decided on Thursday to proceed with the next three-step split, which was worth 925.90 dollars in the end.

Tesla’s general meeting of shareholders on Thursday approved a threefold stock split in the Wall Street-listed electric car maker. Its leader Elon Musk did not specify when this division will work.

The group had already split its share by five in 2020 to make the title available to its employees and small shareholders, thus imitating several big names in technology.

Other stock market giants, whose shares have exploded in recent years, have made similar moves in recent days, such as Amazon and Alphabet. Tesla’s head unit price was $925.90 on Thursday.

Are you planning to buy shares?

During this semi-virtual shareholder meeting, Elon Musk, who was on stage in front of enthusiastic employees in Austin (Texas), did not rule out the plan to buy shares for a long time “without wanting to get involved”.

The Tesla boss also indicated that the group will end the year with 2 million vehicles produced, with the manufacturer having produced around 1.5 million so far this year. He also clarified that “he will probably be able to announce the location of the new factory later this year”. In ten years, Elon Musk believes he can produce 100 million cars a year. “It’s very possible,” he said.

Commenting on the state of the economy, the Tesla boss estimated that the peak of inflation had been passed, that inflation would fall “rapidly” but that there would be a “small recession for about 18 months”.

“I intend to stay at Tesla as long as I’m useful there”

Being active on Twitter, in the middle of a legal battle after the removal of his promise to buy from the social network, Elon Musk was content to confirm: “I use Twitter a lot (…) and since I understand this product very well, I have a great idea of ​​how to lead the engineering team at Twitter to make the product even better.” But “I don’t need to have Twitter for that,” he added.

When asked by a shareholder about his longevity at Tesla, he longs for Twitter. “I’m interested in staying at Tesla as long as I’m a good fit there and I’m a good fit in all aspects of product design and manufacturing process.” But “Tesla will remain the same even if I get abducted by aliens or return to the planet I came from,” joked the eccentric billionaire.

(By AFP)

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