New York (CNN Business) Tesla is preparing to split its stock , making it more affordable for average investors. has skyrocketed 50% since announcing the stock split on August 11. Once the split goes into effect on August 31, current Tesla investors will get five shares for each one they own. The market value of Tesla, now hovering around $390 billion, will remain the same. Still, Tesla's market value is now more than four times the combined market caps of Detroit's Big 3.

Source: CNN August 21, 2020 14:41 UTC