On Wednesday, Tesla stock rallied as much as 7% in early trading.<br />According to Business Insider the boost comes after the company revealed a five-for-one stock split scheduled for August 28.<br />Every Tesla shareholder will receive four additional shares that, when added to their existing share, will equal the stock's pre-split value.<br />The split itself won't change Tesla's market cap.<br />However, it may pull in smaller investors who couldn't previously afford shares.<br />The stock closed above $1,370 per share on Tuesday.
