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Photo: Wang Gang/VCG via Getty Images

Tesla's share price jumped in after-market trading following the Silicon Valley electric automaker's announcement of a 5-for-1 stock split.

Why it matters: The company's Tuesday evening announcement said the move is aimed at making stock ownership "more accessible to employees and investors."

  • The company's stock price has surged this year and closed yesterday at $1,374-per-share, which is three times higher than where it started in 2020.
  • The stock is up almost 7% in premarket activity this morning.

The big picture: "For Tesla, it helps defend against claims its stock price is inflated by reducing the total cost of one share by 80 percent and giving the company the appearance of having more affordable and accessible shares," The Verge reports.

Yes, but: Reuters notes that "brokerages increasingly let customers buy parts of shares, making the benefit of share splits less clear than in the past."

Go deeper

Affirm files for IPO

Illustration: Annelise Capossela/Axios

Affirm, a fintech company that lets online retailers provide pay-later options for customers, has filed to go public.

Why it matters: The company, founded by PayPal co-founder Max Levchin, is the latest Silicon Valley "unicorn" to file for an IPO as the year draws to a close. A number of tech companies are rushing to go public before the end of the year, including Airbnb and DoorDash, with Roblox and others also rumored to be in the pipeline.

Cuomo says words may have been "misinterpreted" following allegations of harassment

New York Gov. Andrew Cuomo at a Feb. 22 news conference. Photo: Seth Wenig/pool/AF via Getty Images

New York Gov. Andrew Cuomo issued a lengthy statement on Sunday saying he " never inappropriately touched anybody" but acknowledged that "some of the things I have said have been misinterpreted as an unwanted flirtation," after two of his former aides accused him of sexual harassment.

Why it matters: Prior to Cuomo's statement, in which he adds that he "never inappropriately touched anybody" or meant to make anyone uncomfortable, the governor's office and the state attorney general went back and forth in a public disagreement about how to investigate the allegations.

Cyber CEO: Next war will hit regular Americans online

Any future real-world conflict between the United States and an adversary like China or Russia will have direct impacts on regular Americans because of the risk of cyber attack, Kevin Mandia, CEO of cybersecurity company FireEye, tells "Axios on HBO."

What they're saying: "The next conflict where the gloves come off in cyber, the American citizen will be dragged into it, whether they want to be or not. Period."