Tesla plans another stock split

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Tesla is asking its shareholders for permission to split its stock for the second time in two years.

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This split would come in the form of a dividend, which would pay shareholders additional shares.

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Most dividends pay cash to investors.

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The electric car maker did not give details about how many shares investors would receive.

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Tesla Car Shares are up 32% since closing at $766.37 just two weeks ago.

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The stock closed Friday at $1,010, which once again gives the company a market value greater than $1 trillion.

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The day that Tesla's previous five-for-one split went into effect, shares jumped 12.6%.

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Tesla is still a fraction of the size of most long-established automakers.

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Since October 2019, when Tesla shifted from a series of quarterly losses to an unexpected profit, shares of the stock have climbed 1884% through Friday's close.

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