Shares of Nvidia (NASDAQ: NVDA) have soared since the company reported a strong first-quarter earnings report on May 22 and announced a 10-for-1 stock split.

Since then, the stock has jumped roughly 20% in less than two weeks, and its momentum seems to be continuing into the stock split, which is scheduled to go into effect after hours on June 7. Shares have climbed nearly 10% after the initial bounce on those announcements.

There are a number of reasons investors are reacting favorably to Nvidia's upcoming split. First, even though stock splits don't change the fundamentals of a stock or the business, investors seem to believe that splits are a positive sign from management that it expects the share price to keep moving up.

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Source Fool.com