Shares of Tesla Inc.TSLA,
Premarket trading rose 6.1% on Wednesday after falling 7.7% after a three-day losing streak after the electric automaker announced a 5-for-1 stock split. Baird analyst Ben Kallo reiterated his neutral rating on the stock since Jan. 9 and kept his price target of $ 1,658, roughly 21% above Tuesday’s closing price of $ 1,374.39. “We believe the stock split is a recognition of the fact that the market is increasingly being influenced by individual investors, including those looking to get involved in the next generation of transportation,”
has increased by 3.2%.