Tesla unveils timing of 3-for-1 stock split, stock up 1.7% premarket

Tesla Inc.
TSLA,
-6.63%
said it will conduct a 3-for-1 stock split that will give shareholders of record as of Aug. 17 a dividend of two additional shares of common stock on Aug. 24. Trading will begin on a stock split-adjusted basis on Aug. 25, the company said in a regulatory filing published Friday. Shares were up 1.7% premarket Monday, but are down 18% in the year to date, while the S&P 500
SPX,
-0.16%
has fallen 13%.