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Why Tesla Shares Skyrocketed in August

TheMotleyFool

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Shares of electric-car maker Tesla (NASDAQ: TSLA) soared 74.2% in August, according to data provided by S&P Global Market Intelligence. On the last day of the month, Tesla's stock split five for one.

Tesla's shares closed out the month at $498.32 per split-adjusted share. Pre-split, that would have been a share price of $2.491.60. On July 31, its shares closed at "just" $1,430.75. This continued Tesla's 2020 winning streak: The company's stock price appreciated nearly 500% between Jan. 1 and Aug. 31.

Image source: Getty Images.

Source Fool.com

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