20:25:51 EDT Fri 17 May 2024
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Tesla Inc CDRs (CAD Hedged)
Symbol TSLA
Shares Issued 14,600,000
Close 2023-12-20 C$ 22.87
Market Cap C$ 333,902,000
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FP/wire say chipmakers may not follow Apple with splits

2023-12-21 08:51 ET - In the News

See In the News (C-AAPL) Apple CDR (CAD Hedged)

The Financial Post reports in its Thursday edition that this year's run-up in tech stocks, particularly chipmakers, has left many with price tags so lofty it may seem like now is the time for firms to split their shares. A Bloomberg dispatch to the Post says that tech's popularity among investors, however, means the firms may not need to take that step to lure more buyers. Companies appear to be getting the message: This may be the first year since 2010 with no splits announced among Nasdaq 100 members. Top performers "don't have to be as worried about splitting to remain attractive," said Brian Mulberry, a portfolio manager at Zacks. The prevalence of fractional shares also makes companies with high stock prices accessible to many investors. Splits had a resurgence during the pandemic as tech stocks skyrocketed amid rock-bottom interest rates and swelling demand for electronic devices and digital services. Apple and Tesla did stock splits in 2020; for the electric-vehicle maker, it was the second such move in a two-year span. Last year, Amazon and Alphabet both split their stocks. This year, there are signs that investors, especially individuals, are willing to pay up for chipmakers even after they logged huge rallies.

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