Ioshackz.com Apple Completes 4-For-1 Stock Split, AAPL Rose By 3.39% At Close Apple’s stock split plan has officially completed and has led AAPL rose by 3.39%, closed at $129.04 on Monday. Last Friday, Apple’s stock price closed at $499.23 (before the split), which has surged by approximately 70% since the start of this year.
Since the announcement of the stock split, Apple’s stock price has risen by nearly 30%. This wave of gains allowed Apple to surpass Saudi Aramco to become the world’s most valuable listed company and the first US-listed company to exceed $2 trillion in market value.
On the 11th of this month, Tesla also submitted a plan to conduct a “5-for-1 stock split” plan. After the market close on August 28, every share held by Tesla investors became five shares, and the stocks after the split adjustment were officially traded on August 31.
This year, Tesla’s stock has risen more than five times, while the stock values of General Motors and Ford Motor Co. have fallen due to the impact of the COVID-19 pandemic.
Splitting shares is a way for a company to reduce the cost of buying individual shares. After the stock split, apart from the lower share price and the increase in the number of shares outstanding, there is virtually no other impact. A stock split will not affect the value of a company, but it will often promote a short-term rise in the company’s stock price.