Tesla Inc (TSLA)

[PAUL_MARKOWITZ]

If a holder holding 1,000 shares sold 500 shares after tomorrow and before 31st August, his/her broker would receive 4000 shares on 31 August....but the broker would immediately transfer 2000 of the received shares to the person who who bought the 500 shares post record date and before effective date.

As such, your hypothetical holder would be left with 2,500 shares in their account.

Bottom Line: Value before effective date = Value after affective date.