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It doesn't have to split again - there's no requirement to do so.
My records show that it split at about $1,400/share near the end of July, 2020. One argument at the time was that the price was too high for Tesla to offer stock incentives to employees but I don't buy that necessarily. It agrees with your reasoning (and my wife's) though. As mentioned already, there is no rule or requirement for a company to split its stock but I do believe that they have to be given permission to do so by the exchange they are in, in this case S&P. Personally I like the idea. When the price per share goes down then little people buy stock and the price slowly goes up again, which is good for those of us that own a few shares.
The stock was at $ 2200.00 when the 5 to 1 split happened. When the stock price gets to hight they split the stock to bring the price down ( in this case to 420 of course ) I expect the stock to split again when its hits those highs. Maybe about late 2022 or early 2023. I am long on TSLA !
Elon’s stock dump provides evidence there exists institutional investor demand chasing TSLA that $9B hardly affected its price. Longterm bull prognosticators hold Tesla’s lead in technology, production efficiency and the fact that Tesla has become a noun(people buy a Tesla not an EV), changes its class of investment.
