Nvidia to Complete 10-for-1 Stock Split
Subtle Shift in Company Strategy
Split Follows Strong Performance
Nvidia (NVDA -0.09%), one of the hottest stocks on the market, is undergoing a significant shift. The chipmaker will complete a 10-for-1 stock split after the market closes on Friday, June 10th. This means that for each share of Nvidia stock held, shareholders will receive an additional nine shares as part of the operation.
The stock will begin trading on a split-adjusted basis when the market opens on Monday, June 10th. The split is intended to make Nvidia's stock more accessible to a wider range of investors by lowering its share price. Nvidia's stock has been on a tear in recent years, rising from around $50 per share in early 2020 to over $300 per share today.
The split comes on the heels of tremendous price appreciation for Nvidia's stock. The company's shares have more than tripled in value over the past year, fueled by strong demand for its graphics processing units (GPUs) from gamers, data centers, and other industries.
Nvidia's stock split is a sign that the company is confident in its future prospects. The split will make it easier for investors to buy Nvidia's stock, which could help to drive the share price even higher.
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