Tesla To Raise $5 Billion With New Shares

Business Insider reports that Tesla is planning to sell up to $5 billion in new shares right after its stock split.

Tesla's 5-for-1 stock split went into effect on Monday.

A $5 billion share sale would represent roughly 1% of the tech titan's market value.

Since August 11, when Tesla said it would enact the stock split, its shares have added more than 70% Business Insider says a split changes nothing about a company's underlying fundamentals.