Apple, Tesla shares pop after stock splits

REUTERS: The high-flying shares of Apple Inc and Tesla Inc rose further on Monday, as investors jumped at the opportunity to own shares at more affordable prices after the companies split their stock.AdvertisementSplitting stocks is a way for companies to make it less expensive to buy individual shares although moves by some retail brokerages to offer slices or fractions of shares to smaller investors has made the impact increasingly marginal.

The rally helped the iPhone maker overtake Saudi Aramco as the world's most valuable publicly listed company and become the first publicly listed U.S. company to breach US$2 trillion in market capitalization.AdvertisementThe electric carmaker followed suit earlier this month by announcing a 5-for-1 split to portion its richly valued stock into smaller chunks, which also took effect on Monday.

Shares of Tesla, up 61per cent since it announced its first-ever stock split in mid-August, closed at US$2,213.4 on Friday. They rose 3.2per cent at US$456.90 in early trading on Monday.

Source: Entertainment Trends (entertainmenttrends.net)

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