Tesla diluted with a 5 to 1 forward stock split and it is still trading! It increased the AS and OS by 5 times. ------ A forward stock split is NOT dilution. That's just dividing the number of shares and the price correspondingly. The percentage of the company owned by existing shareholders does not change.
Dilution is the issuance of new shares. And in the case of issuing new shares, the existing shareholders' percentage ownership declines.