Tesla's stock split news was like a pebble thrown into an already boiling lake.
August 12, Wednesday, Beijing time evening.
Tesla officially announced that Board of Directors approved a one-for-five split of ordinary shares in the form of dividends.
Shareholders of record on August 21 will receive an additional four shares of common stock for each share, which will be distributed after the close of business on August 28.
The shares adjusted for the stock split officially began trading on August 31.
Bloomberg pushed the news immediately, with only one sentence in the title--
"Tesla Splits Stock to Make Lofty Shares Attainable Again".
The title of Reuters is more direct - "Tesla splits its shares, retail investors can finally afford it".
But what really made this news explode in the domestic Financial Media circle was a sentence in the Bloomberg report--
"At one point last month, nearly 40,000 Robinhood account holders added shares of the carmaker during a four-hour span."
Nearly 40,000 Robinhood accounts bought Tesla in four hours.
This number has been repeatedly cited, translated, and amplified by domestic media.
With the background data that Tesla's stock price has more than quadrupled from the low in March, and US Dollar's market value exceeds 250 billion, surpassing the sum of Toyota and Ford,
It quickly appeared on the home page of major financial apps.
On August 13, the day after the stock split announcement was issued, the stock price of Tesla continued to rise in pre-market trading.
The market's interpretation of the stock split is highly consistent - lowering the threshold for retail investor participation, expanding the Major Shareholder base, and boosting liquidity.
Wedbush analyst Dan Ives wrote in a note to clients:
"I think this is a smart move at a time when stocks and the EV story continue to gain steam."
Robert W. Baird analyst Ben Kallo interprets it from another perspective:
"The stock split is an acknowledgment of the fact that markets are increasingly influenced by individual investors."
In Henglong Headquarters's office on the twenty-third floor, Zhao Chen read the original Bloomberg report Lin Shicheng sent from New York from beginning to end.
The core logic of the report is almost exactly the same as what he told Elon Musk on the phone a few days ago--
The stock split will allow more ordinary people to afford Tesla stocks, retail investor participation will increase, and liquidity will be better.
But there was one sentence in the report that caught his attention.
"Tesla's stock is about 58% institutionally owned, according to Yahoo Finance Premium data."
58% of the shares are held by institutions, and the remaining 42% are retail investors and others.
Era Vanguard holds approximately 130 million shares after the stock split, based on 26 million shares before the stock split.
Accounting for approximately 14.8% of the total share capital of Tesla, it is an important shareholder second only to Elon Musk.
After the stock split, retail investors poured in in large numbers, and the shareholding ratio of Era Vanguard will be diluted due to the expansion of the total share capital - but the number of shares held remains unchanged and the logic of the position remains unchanged.
He put the report on the table, picked up Zisha Pot and poured a cup of tea.
The Jiangbeizui outside the window was shrouded in the August heat wave, and the Two Rivers Confluence river surface was glowing with a dazzling white light.
He was about to reply to an email to Lin Shicheng when Liu Mingyu opened the door and came in.
"Zhao Zong, there is something I need to confirm with you."
Zhao Chen Put down the tea cup. "Say."
Liu Mingyu is holding a tablet computer in his hand, and on the screen is an email he just received.
"An interview appointment sent by Bloomberg reporter based in Hong Kong.
They want to conduct an exclusive interview with you. The topic is the changes in the global institutional shareholder structure after the Tesla stock split.
As well as Era Vanguard's attitude towards the stock split as an important external shareholder of Tesla.
The email stated that Bloomberg's Billionaire Index team is also simultaneously updating the ranking of Elon Musk.
This interview may be published in conjunction with reports of the stock split and changes in Elon Musk's net worth."
He handed the tablet over. Zhao Chen took it and scanned the content of the email.
Bloomberg's wording is very formal, but you can see between the lines how much they attach importance to this interview--
At the end of the email, the other party specifically mentioned the role of Zhao Chen in the establishment of the Henglong institutional framework.
As well as Era Vanguard's long-term holding strategy on Nvidia and Tesla, suggesting that the interview will not be limited to the topic of Tesla's stock split.
"What's the appointment time?"
"Next Wednesday, New York time morning. It can be done through video connection, Zhao Zong does not need to fly New York."
Zhao Chen placed the tablet on the table and gently rubbed the cover of Zisha Pot with his fingers.
Bloomberg's interview request, if it were him in the past, his first reaction would be to refuse - it's not that he doesn't like the exposure, it's just that it's unnecessary.
But at this moment he thought of one thing:
After the stock split of Tesla, a large number of retail investors poured in, and Era Vanguard's position attitude as an important external shareholder will attract more attention.
The readers of Bloomberg are global institutional investors and financial professionals, which is clearly expressed through this interview
The stance of "holding for the long term and not doing anything due to stock split fluctuations" is cleaner than letting the market guess.
"Reply them. I can do it next Wednesday, via video link."
The interview time is controlled within 45 minutes, there is no interview outline, and there is no advance review of manuscripts.
But I will not answer any questions involving the basis for specific investment decisions."
Liu Mingyu Write down the key points, turn around and walk out.
Zhao Chen stopped him.
"Wait a minute. Please help me check who is the reporter at Bloomberg who is responsible for this interview."
Liu Mingyu looked down at the email and read out the signature at the end of the email - "Emily Chang."
Zhao Chen's fingers paused on the edge of the tea cup for a moment.
Emily Chang, Bloomberg senior reporter in the technology field,
I have interviewed Elon Musk, Jeff Bezos and Cook, and my style is famous for asking deep questions and following closely.
She won't settle for asking "What impact will a stock split have on the stock price?"
If she comes, she will definitely ask about the logic of Era Vanguard's position on Nvidia, the process of Henglong's investment holding from Real Estate Transformation, and how Zhao Chen recalibrated its investment framework after Butterfly Effect.
He didn't mind answering these questions, but he needed to think about one thing clearly--
What words can be said, what words cannot be said, and what words can be said will make the position logic of Henglong and Era Vanguard clearer and more able to withstand public scrutiny.
He picked up his phone and sent a message to Lin Shicheng.
"Bloomberg has made an appointment for an interview next Wednesday. The reporter is Emily Chang.
Please help me prepare a summary of Era Vanguard's recent compliance records, highlighting all publicly disclosed 13D and 13G filing document numbers.
If specific position data are involved in the interview, only publicly disclosed information will be quoted.
In addition, send me the public summary version of Henglong Research Institute's Nvidia Independent Tracking Manual--
It's the version you compiled before Silicon Valley met last year, and all input variables come from public data."
Lin Shicheng's reply popped up quickly.
"Received. I have dealt with Emily Chang, and she has done a lot of research on the SEC's public filings.
She will not give the interview outline in advance, but the questions she asks must be derived from public documents.
I will sort out the complete list of 13D declarations and send it to you, so you can keep a copy at hand.
In addition - she may ask about your entire personal investment path from Bitcoin to Tesla to Nvidia.
How to answer this question? It is recommended to think about the boundaries in advance."