Shares of Tesla Inc. shot up into split-adjusted record territory Monday, and briefly topped the $500 mark intraday, as the lower price did not change the trajectory of the parabolic uptrend.

The stock TSLA, +12.56% charged 12.6% higher to $498.32 in active trading, surpassing the previous record closing price of $447.75 — $2,238.75 pre-split — on Aug. 27. Earlier in the session, the stock was up as much as 13.0% at its intraday peak of $500.14, which topped the previous all-time intraday high of $463.70 — $2,318.50 pre-split — reached on Friday.

Trading volume swelled to 115.1 million shares, compared with the full-day average calculated by FactSet of 73.4 million shares.

After closing at $2,213.40 on Friday, Tesla’s 5-for-1 stock split went into effect on Monday’s open. The opening price post-split was $444.61, or 0.4% above Friday’s split-adjusted closing price of $442.68.

For Tesla shareholders, the only change is that the number of stocks owned multiplies by five, but the price of the shares owned is divided by five.

Don’t miss Five things you should know about Tesla ahead of its 5-for-1 stock split.

Analyst Dan Ives at Wedbush said as a result of the stock split, he was adjusting his stock price target to $380, which is about 31% below current prices, from $1,900, while maintaining his neutral rating.

“We believe the stock split decision was a smart move by Tesla and its board, given the parabolic move in shares over the past six months, with another stock split by Apple and likely other larger tech stalwarts will follow this same path over the coming months, in our opinion,” Ives wrote in a note to clients.

He said the following significant impetus for Tesla's stock is the "battery day" booked for Sept. 22, trailed by second from last quarter conveyances information. Peruse more about ongoing bullish investigator calls referring to the battery day. 

In the interim, signs are proposing a few speculators are beginning to stress that the stock split features how the stock meeting, which has sent it soaring more than fivefold this year, may have gone a piece excessively far. 

Stock and alternatives exchanging stage iVest+ said late information demonstrates that the number of financial specialists supporting the drawback, or in any event, wagering on a decrease, expanded "fundamentally" in front of the stock split producing results. 

“Our data show that while investors were heavily bullish on [Tesla’s stock] all quarter, as the stock jumped several hundred points leading up to the ex-dividend date, we started to see a change,” said iVest+ Chief Executive Rance Masheck. “A significant percentage of traders either shifted to looking to make money on the downside of the stock moving forward or continued to place bullish bets, but using more complicated strategies that limit downside even more than just buying your typical calls and puts.”

Here are 5 facts investors need to know-

1. Tesla shares are a whole lot less expensive Monday after the stock's 5-1 split. 

2. Even though Tesla's stock shot 12.5% higher at $498.32 an offer Monday, that is still around $1,800 less expensive than where it was exchanged on Friday. The organization declared the stock split not long ago, making shares more moderate for normal financial specialists. 

3. The split won't change the estimation of speculators' all out possessions of the organization. It will simply become the number of offers making up their portfolios. Tesla (TSLA) investors are getting four offers for each offer they held a week ago. 

4. Tesla keeps on being a major objective of short venders - speculators who get the stock and sell it with the expectations of inevitably repurchasing it at a lower cost.

5. Tesla may likewise get a further lift in the event that it is at long last added to the blue-chip S&P 500 list (INX) - a move that could before long happen since the organization has posted a reliable run of gainful quarters. 

Apple (AAPL) likewise began exchanging Monday after its stock split with shares now about $400 less expensive after its 4-1 split. Apple stock is presently exchanging at $129.04 per share, subsequent to increasing 3.4% Monday. That is contrasted with about $500 a week ago.