Nvidia (NASDAQ:NVDA) announced that it plans to carry out a four-for-one stock split, subject to shareholder approval. The stock is expected to trade on a split-adjusted basis from July 20.
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Nvidia stock is up by 13x over the last five years, trading at about $600 per share as of Friday. The company says the split will make stock ownership more accessible to investors and employees.
Nvidia stock gained about 3% following the news. Although splits do not change the fundamental picture for a company, they usually result in a run-up in the stock price post-announcement as investors see them as a signal that management is confident that growth will remain strong going forward.
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