Tesla Inc. : With a price divided by 3, Tesla stock becomes more accessible to investors and employees

(BFM stock exchange) – At more than $900 per share, Tesla is preparing to make its stock more widely available. The annual general meeting of shareholders of Elon Musk’s group on Thursday voted to conduct a next split by three of the deal, which was valued at $925.90 at the last close.

Tesla’s shareholders’ meeting on Thursday approved a triple stock split for the Wall Street-listed electric vehicle maker. Their leader Elon Musk has not specified when this split will take effect.

The company had already split its stake by five in 2020 to make the title more accessible to its employees and small shareholders, mimicking several big names in tech.

Other stock market giants, whose stocks have skyrocketed in recent years, have recently conducted similar operations, such as Amazon and Alphabet. The unit price of a Tesla title on Thursday was $925.90.

Towards a share buyback program?

During this semi-virtual shareholders’ meeting, Elon Musk, present on the stage in front of enthusiastic employees in Austin (Texas), did not rule out a long-term share buyback program “without wanting to get involved”.

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

In his statement on the state of the economy, the Tesla boss estimated that inflation had peaked, that price increases would fall “rapidly,” but that there would be “a relatively mild recession in about 18 months.” .

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

Reluctant to tweet while at the center of a legal battle after reneging on his promise to buy from the social network, Elon Musk contented himself with stating: “I use Twitter a lot (…) and I understand the product very well, I have a good one Idea of ​​how I can guide the engineering team at Twitter to radically improve the product.” But “I don’t need Twitter for that,” he added.

Asked by a shareholder about his longevity at the helm of Tesla as he covets Twitter. “I intend to stay at Tesla as long as I’m useful there, and I’m most useful in all areas of product design and industrial process.” planet I came from,” joked the quirky billionaire.

(With AFP)

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