Tesla's shares have already soared 35% since the stock split announcement on Aug 11, propelling the electric car maker's market valuation to $401.2 billion as of Aug 26. Tesla will split its stock on a 5-for-1 basis.
The company said that the move is aimed at making "stock ownership more accessible to employees and investors."
After all, Tesla's share prices have more than tripled so far this year, making it exorbitant for millennials and retail investors.