Tesla Inc. will require more time to file regular information ahead of the annual shareholder meeting, delaying the possibility of fresh share issuance and a possible share split.
In a securities filing on Monday, Elon Musk stated that he would not be able to submit a proxy before the end of the year without offering a competitive timeline.
Tesla adds $84 billion to valuation due to possible stock split
Tesla announced the expected share issue vote request on March 28. Investors are waiting for more information.
The corporation stated that the new shares would enable a share split, but did not elaborate. In August 2020, Tesla held its last stock split.
Tesla shares fell 2.2 percent to $851.58 in New York morning trading on Tuesday. Tesla’s stock has dropped nearly 20% this year.