Tesla will also reset the stock's market price and offer employees new equity options, as detailed in a proxy filing with the Securities and Exchange Commission (SEC). This could lead to old investors and employees adding to their previously held shares in Tesla. In the filing, Tesla wrote, "Since our stock split in August 2020 to June 6, 2022, our stock price has risen 43.5 percent. While this value appreciation has led to our employees benefiting enormously through the years, we want to make sure all employees, no matter when they join, have access to the same advantages." Tesla's stock split went into effect immediately after the market closed on August 24, with pre-split shares worth $891.29 and post-split shares trading around $302. Tesla's stock closed at $288.98 on August 26. Tesla is currently the world's sixth-largest company and is the largest EV automaker, though bulls and bears still disagree about the stock's long-term value.