Shares of Apple Inc and Tesla Inc will be less costly on Monday as pre-announced stock splits take effect, in theory making them more accessible to retail investors, but as more brokers offer fractional shares, some in the market question the need.
) will be less costly on Monday as pre-announced stock splits take effect, in theory making them more accessible to retail investors, but as more brokers offer fractional shares, some in the market question the need.
Investors cheered the Apple and Tesla announcements, helping extend a rally in the companies’ shares, which along with many other technology firms, have soared in value as the market emerged from its pandemic-induced depths in March. Both Apple and Tesla said their actions, a 4-1 and 5-1 split respectively, would let more investors access their shares.
“Fractional share ownership, all else equal, really does render the price of a stock irrelevant,” said Julian Emanuel, chief equity and derivatives strategist at BTIG.
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