Tesla Stock TSLA Spikes Almost 13% After 5-For-1 Split, Becomes 7th Largest Market Cap US Company

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Tesla (NASDAQ: TSLA) shares rallied again on Monday as a stock split took effect, attracting more buying from investors. TSLA soared 12.6% in trading on Monday, accelerating the Elon Musk led manufacturer into the seventh-largest US company by market capitalization.

Trading at over $2,000 on Friday on a split-adjusted basis, Tesla's stock had among the highest price tag on Wall Street. Other companies with quadruple-digit stock prices included Amazon, at over $3,400, Google-parent Alphabet, at over $1,600, and Chipotle Mexican Grill, trading at over $1,300.

Tesla Stock ( $TSLA ) 5-for-1 Split for August 31, Here's What You Need to Knowhttps://t.co/T163OqOmvc

— Tesmanian.com (@Tesmanian_com) August 22, 2020

Tesla ended Monday's session with a $464.3 billion valuation, racing ahead of Visa Inc. (

$451.1 billion) for the first time and securing seventh place, according to Dow Jones Market Data.

Since the beginning of 2020, Tesla shares are up around 500%. In sharp contrast, the S&P500 is up 8% in the same time span.

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