Nvidia to Split Stock 10-for-1 on June 7
Breaking News: Nvidia Announces Stock Split
Details and Implications
Nvidia Corporation (NVDA) has announced a 10-for-1 stock split to be effective on June 7, 2023. The split will reduce the company's share price from around $1,100 to approximately $109. This move aims to enhance accessibility to Nvidia's stock for employees and investors following its strong financial performance.
For every share of Nvidia stock owned, shareholders will receive ten new shares. This will effectively increase the number of outstanding shares while maintaining the overall market capitalization of the company. Historically, stock splits have not favorably impacted Nvidia's share performance, but market reaction remains to be seen.
Alongside its earnings report, Nvidia disclosed plans for the stock split. The company's board of directors approved a four-for-one split of common stock. This split is intended to make Nvidia shares more affordable and accessible to a broader range of investors.
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