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SpaceX CEO Elon Musk wants to split his company's stock.

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According to a filing with the Securities and Exchange Commission, Tesla (TSLA) - Get Tesla Inc Report co-founder Elon Musk's rocket and space tech company raised $337.35 million in December.

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This round of funding has undoubtedly increased the company's valuation, which had already reached $100 billion in October. At the time, the stock price of SpaceX was $560 per share.

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Currently, the company is not publicly traded, but it is planning to split its action. According to a CNBC report, SpaceX is proposing to its private-held shareholders a 10-for-1 share split.

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"The split has no effect on the overall valuation of the company or the overall value of your SpaceX holdings," SpaceX said in an email obtained by CNBC.

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This would be the first time SpaceX's stock has been split. This decision would have no effect on the company's or the action's fundamentals. Listed companies typically split their stock when it becomes out of reach for retail investors.

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One of the primary reasons for a split is to make the share price more accessible, attracting a larger number of investors. The company also hopes that by doing so, it will improve the liquidity of its shares.

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