Tesla (NASDAQ:TSLA) just announced a five for one stock split that goes into effect August 31.

On the news, shares of TSLA are now up to $1,463, and could head higher as we near the split. All as the company attempts to make stock ownership far more affordable for employees and investors. Buying prior to the split could be a great bet, with shares likely to balloon higher post-split on the EV boom.

“Each stockholder of record on August 21, 2020 will receive a dividend of four additional shares of common stock for each then-held share, to be distributed after close of trading on August 28, 2020,” Tesla said in an 8-K filing, as quoted by Fox Business.

Apple (NASDAQ:AAPL) also declared a 4:1 stock split, and declared a cash dividend of 82 cents, payable on August 13.

“This is Apple’s fifth stock split since it went public. It also split on a 7-for-1 basis on June 9, 2014; a 2-for-1 basis on February 28, 2005; a 2-for-1 basis on June 21, 2000; and on a 2-for-1 basis on June 16, 1987,” said CNBC.