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Tesla among Big Tech giants Amazon, Alphabet, and Apple planning a stock split

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Yahoo Finance's Brian Sozzi and Julie Hyman discuss Tesla's plans for another stock split, which, if approved, would make the electric vehicle maker the latest tech company to split its shares.

Video Transcript

- Got to mention some big, big companies that are on the trending tickers list this morning that we are watching. First up is Tesla. Another split looks to be coming for Tesla brand, Sazi. It's planning to seek shareholder approval for another stock split. It would be its second in two years. The other was effective back on August 31, 2020. The stock has risen about 125% since. And Saz, this would be the third biggie to announce a split this year on the heels of Alphabet and Amazon.

So I don't know if the-- I don't know if three makes a trend in the splits officially back, but it is, it's interesting to see all three of these do it.

- Three, in fact, does make a trend Julie. That's when you could put out a nice list and drive lots of clicks for written stories. But I will say this. It could be the summer of stock splits, stock splits. Amazon shares are supposed to split later, later this summer if that gets approved here. And, and for Tesla, it comes in an interesting time, where the chip supply shortage, it's still ongoing for the automakers. But there are indications that it is starting to improve ever so slightly.

That is a good thing for Tesla, could perhaps see an acceleration in its earnings later this year. You have new production coming out of their new Berlin factory that opened a couple of weeks ago. You have China continuing to be very strong for EV sales, as we learn from Xpeng results this week and then Neo last week. So all in all, the back half of the year for Tesla is shaping up pretty well, at the same time where it might give the opportunity for retail investors to better get involved with this story.

- Yeah, and the company, by the way, announcing this in a way that might be unusual for others but is sort of typical for Tesla. Tweeted about it first and then came out with a filing, right. So and we don't have a proxy statement as of yet so we don't have the full details of this plan. So we're looking ahead to--

- Only in Tesla, Julie, only in Tesla land, right?

- They do, you know, they do things their own way. Oh and we should mention also Elon Musk tweeted about that he has a asymptomatic COVID. So that's just another thing to throw in the pot when it comes to Tesla.