Tesla stock closed Thursday at $925.90, down 12.4% so far this year, but it almost completed a split itself, tumbling more than 40% by May after Musk made a $44 billion bid to buy Twitter in April.
Investors were worried that Musk would be distracted from Tesla if he purchased the social media platform.
But Musk backed out of the deal in July and Twitter sued him to force him to make the purchase. A trial is scheduled for October in Delaware Chancery Court. Tesla stock began to recover in July, boosted by better-than-expected second-quarter earnings.
Tesla announced plans for the split in late March when shares were trading over $1,000. It will not affect Tesla's overall market value or its status as the world's most valuable automaker.
Share splits are used by companies when their stock price gets too high for retail investors to buy individual shares, or when a company wants more shares to exist in the marketplace to make the stock more liquid to trade.
Tesla has said it was trying to accomplish both of these goals: giving its employees greater quantities of shares as well as making the stock more accessible to retail investors.
Musk sold some shares of Tesla for the Twitter purchase and had planned on using other shares as collateral.
Shareholders also re-elected Ira Ehrenpreis and Kathleen Wilson-Thompson to the Tesla board.