Forget the Stock Split: 2 Better Reasons to Buy Nvidia Stock Right Now
Nvidia (NASDAQ: NVDA) was a $360 billion company at the start of 2023, but thanks to a whopping 745% gain in its stock price, the company is now worth over $3 trillion. It's experiencing a surge in demand for its data center chips, which are the most powerful in the industry for processing artificial intelligence (AI) workloads.
In June, Nvidia stock was trading at over $1,200 per share, which made it somewhat inaccessible to smaller investors, so management executed a 10-for-1 stock split effective June 10. The split increased the number of shares in circulation tenfold and organically shrank the price per share by 90%.
It hasn't changed the underlying value of the company, but investors can now buy one share of Nvidia for just $123 (as of this writing).
Source Fool.com
