After Nvidia's Stock Split, Can It Reach $1,200 Again?
The market can't get enough of artificial intelligence (AI) darling Nvidia (NASDAQ: NVDA). The semiconductor giant sits just shy of a $3 trillion valuation, making it the third-largest company in the world.
Nvidia is the premier provider of AI chips. Its hardware powers the technology so many believe is the next big thing. Since ChatGPT-3 was first released to the public, Nvidia's stock is up almost 700%, and it tipped above $1,200 a share last week.
Shares are now trading at around $130. What happened? No, the company's stock did not crater and lose 90% of its value. Instead, the massive rise in price led the company to initiate a 10-1 stock split. Shareholders now own 10 times as many shares as they did before the split, with each share worth a tenth of the price.
Source Fool.com
