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Tesla Inc. said Monday it would ask shareholders to vote at its annual meeting to increase the number of additional shares in order to enable a stock split.

The Austin, Texas-based company's shares rose 6 percent to $1,072.08 in trading before the bell.

The stock split, if approved, would be the company's latest after a five-for- one split in August, 2020 to make owning the stock easier for its employees and investors.