Tesla has officially announced an upcoming shareholder vote for a potential stock split later this year. If shareholders approve of the move, it will be Tesla's second stock split in two years. Wedbush Securities Managing Director Dan Ives joins the hosts at Yahoo! Finance to talk about what this all means for people invested in – or perhaps planning to invest in – Tesla's stock.
Tesla's shares have spiked since it announced the plan to split the stock yet again. Not long ago, some vocal Tesla fans and owners were pushing CEO Elon Musk to consider a split, though he said there were no plans in place. This, all at a time when the stock was much higher than it has been of late.
Since then, the stock dropped significantly, as did most of the market. However, since the automaker opened its German factory and announced the potential split, the stock has been rising quickly. Ives told Yahoo Finance:
