Apple, Tesla Shares Pop After Stock Splits

17Views

August 31, 2020

The high-flying shares of Apple Inc and Tesla Inc rose further on Monday, as investors jumped at the opportunity to own shares at more affordable prices after the companies split their stock.

Apple’s previous stock split was 7-for-1 in 2014 and its fifth since going public in 1980.

Splitting stocks is a way for companies to make it less expensive to buy individual shares although moves by some retail brokerages to offer slices or fractions of shares to smaller investors has made the impact increasingly marginal.

Shares of the Cupertino-California-based company, which have rallied nearly 30% since it announced its surprise 4-for-1 stock split and blockbuster quarterly results on July 30, rose 2.6% to $127.99 on Monday.

The rally helped the iPhone maker overtake Saudi Aramco as the world’s most valuable publicly listed company and become the first publicly listed U.S. company to breach $2 trillion in market capitalization.

Apple shares closed at $499.23 before the split on Friday, up 70% this year.

TESLA IN HOT PURSUIT

The electric carmaker followed suit earlier this month by announcing a 5-for-1 split to portion its richly valued stock into smaller chunks, which also took effect on Monday.

Tesla’s stock has surged more than five-fold this year, while shares of General Motors Co and Ford Motor Co declined on fallout from the COVID-19 pandemic.

Shares of Tesla, up 61% since it announced its first-ever stock split in mid-August, closed at $2,213.4 on Friday. They rose 3.2% at $456.90 in early trading on Monday.

Also Watch

A Look At Former President Pranab Mukherjee’s Life In Politics & Beyond | CNn News18

Online brokerages Robinhood, Charles Schwab Corp and Fidelity, along with several smaller shops, have begun offering slices of individual shares.

Stock splits have become rare on Wall Street in recent years, with just three S&P 500 members announcing splits in 2020, compared to an average of ten a year over the past decade, according to S&P Dow Jones Indices.

Array
(
[videos] => Array
(
[0] => Array
(
[id] => 5f4d0789abdb6a740ea11c18
[youtube_id] => I7hBhYwzsv4
Apple, Tesla Shares Pop After Stock Splits => A Look At Former President Pranab Mukherjee’s Life In Politics & Beyond | CNn News18
)

[1] => Array
(
[id] => 5f4d0699082aa874143fc044
[youtube_id] => 1GChehmDT14
Apple, Tesla Shares Pop After Stock Splits => Congress Leader Pawan Kumar Bansal Remembers Former President Pranab Mukherjee | CNN News18
)

)

[query] => https://pubstack.nw18.com/pubsync/v1/api/videos/recommended?source=n18english&channels=5d95e6c378c2f2492e2148a2,5d95e6c778c2f2492e214960&categories=5d95e6d7340a9e4981b2e10a&publish_min=2020-08-28T19:56:04.000Z&publish_max=2020-08-31T19:56:04.000Z&sort_by=date-relevance&order_by=0&limit=2
)

Apple, Tesla Shares Pop After Stock Splits

Also Watch

Speak Your Mind

LEAVE A REPLY Cancel reply

Get in Touch

Recommend for You

Oh hi there It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

You might also like

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

About Us

Follow Us

Support Us & Be a Patreon

Add QNewsHub to your Homescreen!

Oh hi there
It’s nice to meet you.