AI bellwether aims to attract retail investors
) 10-for-1 stock split aimed at luring retail investors has taken effect, sparking speculation over chances of the artificial intelligence bellwether’s inclusion in the blue-chip Dow index.
The stock dipped 0.5% in premarket trading on Monday, after climbing nearly 27% since the company announced the share split and a strong forecast last month. The dominant AI chip maker had also clinched $3 trillion in market value and surpassed Apple (Market analysts said stock splits tend to attract individual investors that trade in smaller lots and have lesser capital to deploy than institutional investors.
Over the last several years, trading volumes have briefly increased following stock split announcements but evidenced little change during and after the splits took effect, according to Goldman’s analysis of 45 Russell 1000 stock splits since 2019.
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