Nvidia Announces Stock Split
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Nvidia's stock split announcement has sent shockwaves through the tech industry.
Nvidia Corporation (NVDA) announced on Wednesday, March 8, 2023, that it will undergo a 10-for-1 forward stock split. The split will take effect on July 21, 2023, for shareholders of record as of the close of business on June 22, 2023. After the split, Nvidia's share price will be reduced from around $1200 to approximately $120 per share.
Nvidia's stock split is the third US company to announce a split in 2023, following Alphabet and Amazon. Stock splits are often seen as a positive sign for investors as they can make the stock more affordable and accessible to a wider range of investors. Additionally, stock splits can help to increase liquidity and trading volume, which can further support the stock's value.
Nvidia's stock has been on a tear in recent years, driven by strong demand for its graphics chips and artificial intelligence (AI) products. The company's stock has gained over 100% in the past year, and it is currently valued at over $500 billion.
The stock split is expected to be completed on July 21, 2023. Investors who own Nvidia stock as of the close of business on June 22, 2023, will be entitled to receive nine additional shares of Nvidia stock for every ten shares they own.
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