Does it really?
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.
But in the past year, online brokerages like Robinhood, Charles Schwab Corp, and Fidelity, along with several smaller shops, have begun offering slices of individual shares. "People my age grew up with technology and we like to invest in technology-related companies, like Tesla and Amazon and Google, and if it weren't for fractional shares we wouldn't really be able to take advantage of that," said Jaidan Craig, a support technician.
It noted that in past years, when companies, such as Apple, Google, Mastercard Inc and Visa Inc, split their shares, retail trading volumes tripled. "As fractional shares trading becomes more popular at retail brokerages, the importance and need for stock splits diminish," said Rebecca Moretti, a writer at Robinhood Snacks.
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