Shares of Tesla Inc. TSLA, -0.52% rose 2.2% in premarket Thursday as it began trading on a split-adjusted basis, joining Alphabet Inc. GOOGL, +1.41% Amazon.com Inc. amxn and other megacap companies that split their shares. this year. The electric vehicle maker’s board approved the split 3-for-1 on Aug. 5 and detailed the proposed split in its proxy in June, saying it would provide more flexibility to its employees to manage its assets and will serve as a recruitment tool. The stock ended the trading day at $891.29 and was trading at about a third of that price early Thursday. Tesla’s stock split is the second in as many years; the company split its stock 5-for-1 in August 2020. Tesla began trading on its split-adjusted basis on August 31, 2020, and the stock has gained about 104% since then.