Even Moderna Can Be a Penny Stock with Fractional Shares
Moderna (NASDAQ: MRNA) has been at the very forefront of vaccine development and its stock has shown no restraint: The company's common shares have risen nearly 500% over the past 12 months. Moderna currently trades at about $140 per share, up from around $30 a year ago, and its revenue has far surpassed analyst expectations in recent quarters. The stock was up 800% at one point.
Given its meteoric stock price rise, interest in the company has skyrocketed. Many average investors now want a piece of the company, although investing in stocks with high share prices has been historically problematic for people without large amounts of money to invest.
Fortunately, fractional shares are now available. This allows people to invest in virtually any company without the need to buy whole shares. This means when you want to invest $500, you actually get to invest the entire amount -- not an arbitrary amount dictated by the price at which the company happens to be currently trading.
Source Fool.com
