Nvidia Stock Soars, Market Cap Tops $3 Trillion
Stock Split Announced Amid Record Earnings
Nvidia's stock price reached a record high this week, with the company's market capitalization surpassing the $3 trillion mark. The surge came on the heels of another blowout earnings report, which sent shares soaring 9% to above $1000 on Thursday.
The company announced a four-for-one stock split in the form of a stock dividend. This means that shareholders will receive three additional shares for every one share they currently own. The split is expected to take effect on July 20th.
Analysts believe the split could make Nvidia's stock more attractive to a wider range of investors. The company's shares have been trading at a high price, which can make them less accessible to some investors.
Nvidia's stock split follows similar moves by other tech giants such as Alphabet, Amazon, and Tesla in recent years. These companies have all seen their stock prices surge in recent years, and the splits have been seen as a way to make the stocks more affordable for investors.
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