}
Richard Drew / AP Photo
- Tesla and Apple both grew 5% at record highs on Friday as both companies prepared to share on their next week.
- Tesla’s shareholder date is Friday at the end of the business, while Apple’s shareholder date is Monday, August 24th.
- After their respective record dates, Tesla and Apple’s stock splits will go into effect and trade at their new split-adjusted price on August 31st.
- Visit the Business Insider website for more stories.
Investors continue to bid for shares of Apple and Tesla ahead of their respective shares.
Both California-based, mega-cap, technology-focused businesses grew about 5% to record highs on Friday.
For the week, Tesla is up 27%, while Apple is up 8%. And since the announcement of their respective shares split, Tesla’s shares are up 52%, and Apple’s shares are up 27%, as of Friday afternoon’s trading.
The record moves for both companies are advancing on their prepared stock splits. Tesla will introduce a 5 for 1 deeds split on August 31st. Apple will introduce a 4-for-1 deed split on the same date.
The Tesla shareholder’s record date is Friday at the end of the business, while Apple’s at the end of the deal this coming Monday, August 24th.
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The shareholder’s record date is when the company determines which shareholders are entitled to receive additional shares due to the split. It’s just a business accounting task.
Investors who purchase shares of Tesla after the shareholder’s current share date, but before the effective date, will still receive five shares for each share they purchased when the split was introduced on August 31st. Ditto for Apple.
And while Tesla’s $ 378 billion market value just surpassed Walmart’s, it still has a long way to go to raise Apple’s $ 2.03 trillion, according to data from YCharts.com.
This will be Apple’s fifth stock split in its history, and Tesla’s first.
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