This is the second stock split in Tesla Inc.'s (NASDAQ: TSLA) history. Last time was August 31, 2020. That was a 5 - 1 split, bigger than the split today.
Here's where the split happened on a chart …
Notice how the price immediately falls the day after.
Stock splits increase the supply of shares. And that makes every share less valuable.
If you're trading this move, don't hold shares overnight.
Instead, look for a play on the other side. After the price dip, there was a really nice consolidation and break out to new highs …
BBBY Bounce?
We're not convinced Bed Bath & Beyond (NASDAQ: BBBY) will continue to break out. But that doesn't mean it's dead …
A lot of these crazy spikers have follow-up bounces. And there still seems to be a lot of hype around BBBY.
The company just secured a loan to help with financing issues.
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