Nvidia Announces 10-for-1 Stock Split, Shares to Trade at $94.95
Stockholders to Receive Additional 9 Shares for Each Current Share
Split in Effect from June 7, Aims to Lower Share Price and Boost Demand
Technology giant Nvidia Corporation (NASDAQ: NVDA) has announced its intention to execute a 10-for-1 stock split on June 7, 2024. The move follows a remarkable 725% surge in the company's share price since 2023.
Post-split, Nvidia shares will trade at approximately $94.95 each, down from the current price of $949.50. This will make the shares more accessible to a broader range of investors and potentially increase demand.
Nvidia announced the stock split along with its earnings report in May 2024. The company expects the split to benefit shareholders by increasing liquidity, reducing volatility, and attracting new investors.
Investors will receive nine additional shares for every share of Nvidia common stock they hold as of the record date, which is expected to be May 30, 2024. The split will be in the form of a stock dividend, meaning shareholders will not have to pay any taxes on the additional shares.
Nvidia's stock split is a sign of the company's continued growth and confidence in its future prospects. The company has been a major beneficiary of the ongoing boom in artificial intelligence and data center computing, and it is well-positioned to continue growing in the years to come.
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