Tesla shares in the limelight as 3-1 stock split kicks in

Tesla's shares have fallen about 11% since the company announced in March plans to increase its number of shares and are trading nearly flat so far this month

Tesla Inc's shares take center stage on Thursday after the world's most valuable automaker split its stock for the second time in as many years to woo more retail investors.

Shares of the electric-car maker rose 1.5% to $301.5 in premarket trading. The stock closed at $891.29 on Wednesday before the three-for-one split took effect.

"Tesla knows it needs to retain its clout with the retail crowd, especially after this past year-plus of retail investors flexing their muscles," said Callie Cox, analyst at trading and investment platform eToro.

Tesla's shares have fallen about 11% since the company announced in March plans to increase