Tesla stock split set to take effect, SoFi stock jumps on prospect of student loan relief

Yahoo Finance anchors discuss trending tickers as Tesla's three-for-one stock split will go into effect after the closing bell and SoFi stock rises on anticipated student loan news.

Video transcript

BRAD SMITH: Yeah, I'm keeping a close eye on Tesla here on the day, of course. This is on the day of their three-for-one stock split. That's going to take effect after the close of trade. And this was voted on, on the 4th of August and approved by shareholders there. So it's effective following today's close. And three-for-one essentially just means that the shares as priced tomorrow. Once you start to see them trading pre-market, they're going to be at about $300 if you kind of just divide this number by 3. Simple math.

BRIAN SOZZI: Yeah, wow, thinking back, back to that call that we talked for call of the day on Tesla. But look, I'm looking at SoFi. I'm still trying to figure out why it has been such a rip roaring move higher in that share, just given where we are with the student loan crisis. But that is not a move I think a lot of people expected of news like that.

JULIE HYMAN: Well, we are expecting a conclusion, at least. This has been an overhang for this stock for so, so long. That's something that we talked to the CEO, Anthony Noto, about. And so now it looks like there's anticipation that we'll get some more clarity on what's happening with student loan relief.