Tesla (NASDAQ:TSLA) stock hasn’t looked this good in a while.
Not long ago, the company revealed that the electric vehicle (or EV) manufacturer plans to enact a three-for-one share split on Aug. 17. Furthermore, CEO Elon Musk tweeted a hint that two new EV models will be shipped out.
For these reasons, or just because Tesla is a premier business and a pioneer in vehicle electrification, you should consider owning TSLA stock now.
Make no mistake about it: Musk is a controversial figure. Everybody and his uncle has been talking about how Musk sold nearly $7 billion worth of Tesla shares recently. Yet, you don’t have to let this distract you from the more important developments surrounding Tesla.
Musk is, among other things, a master of using the media to generate attention for Tesla. He teased a couple of new vehicle models recently, and this could generate investor interest in Tesla. Besides, the upcoming share split will likely entice more people into the trade.
What’s Happening with TSLA Stock?
Throughout 2022 so far, TSLA stock has achieved $1,000 on more than one occasion but couldn’t hold that level. The buyers will have to put in some work to reclaim $1,000 and keep the Tesla share price there.
However, soon $1,000 won’t be the near-term objective anymore. That’s because Tesla’s board of directors approved a three-for-one share split, which will apply to shareholders of record on Aug. 17.
So, if you’re serious about investing in Tesla and making the most of this situation, you can buy some TSLA stock shares prior to Aug. 17. Also, mark Aug. 25 on your calendar, as that’s when the stock will begin trading on a split-adjusted basis.
As the shares become more affordable, traders will smaller account sizes will probably be enticed to invest in Tesla. And of course, when there are more buyers involved, this should put upward price pressure on the stock.
Musk Teases Two New Tesla Vehicle Models
As I mentioned before, Musk is masterful when it comes to using the media to generate buzz for Tesla. That’s exactly what he did when he recently tweeted, “Tesla 500 mile range Semi Truck starts shipping this year, Cybertruck next year.”
This tweet immediately made the financial headlines, so Musk can say, “Mission accomplished.” The Cybertruck is Tesla’s version of a pickup truck, so truckers who’ve hesitated to join the vehicle electrification movement might now be persuaded to give Tesla’s electric truck a try.
Along with all of this, you can simply hold TSLA stock because the company is an EV-market powerhouse. As you may recall, Tesla’s revenue jumped 42% year over year in 2022’s second quarter. Figures like this should remind us all that Musk’s company was, and still remains, an EV pioneer.
What You Can Do Now
For all of the reasons discussed here, feel free to add to your share position in Tesla prior to Aug. 17. And if you don’t have a position already, now’s a great time to start one.
Otherwise, you may regret it as stock-split mania could push TSLA stock much higher. Eventually, even after the split, the stock might reach $1,000 and then some.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.