Tesla shareholders approved Tesla 3-for-1 stock split

Shareholders give Tesla permission to increase its share count, which is expected to be used for a 3-for-1 stock split

Tesla Inc. shareholders on Thursday approved a proposal expected to lead to a 3-for-1 stock split and sided with the company on most of the proposals up for a vote.

The stock split, its second in two years, would provide its employees with more flexibility and make the stock more accessible to retail investors. Tesla performed a 5-for-1 stock split in August 2020, and its shares have increased 31% since then. They closed Thursday at $925.90, up 0.4%.

The effective date of the split was not announced.