Tesla Inc (NASDAQ:TSLA) shares have been adjusted to reflect a 5-for-1 stock split from Friday's closing price of $2,238.75 to $442.68 ahead of the opening bell Monday.
That's why the stock is shown as being down 80.23% on Google.
The stock was trading 0.68% higher at $445.70 at the time of publication premarket Monday.
Tesla investors who owned the stock as of Aug. 28 received split shares in their trading accounts following the aftermarket close Friday.
Stock Splits: The stock split is expected to attract new investors. Stock splits are generally seen as a positive by the market. Stocks are often in a position to split only after an extended period of strong returns.
Once the price of a stock or fund gets too high, even single shares may become too expensive for small retail investors, limiting demand.
Photo courtesy of Tesla.