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Tesla Inc. shareholders approved a three-for-one stock split on Thursday as the electric-vehicle maker seeks to attract an even larger number of retail investors amid a furious rally since late May.
The split will bring Tesla’s shares down to the $300 range, but the Austin, Texas based-company did not immediately specify as of when it will take effect. Tesla had first announced its plan on March 28 via a tweet.
The four-month lag between announcement and vote is proving to be beneficial: A rally in growth stocks has brought the Nasdaq 100 Index up nearly 20% from a June low,
