New High Ahead? NVIDIA Corporation (NASDAQ:NVDA)

NVIDIA Corporation (NASDAQ:NVDA) stock ended higher on Friday after the news.

Market Action

NVDA stock ended Friday at $599.67, up by $15.17 or 2.60%. More than 16.82 million shares traded hands – 2X its 30-day average of 8.32 million shares. The stock opened at $606.55 and moved within a range of $594.78 – 608.88.

NVDA Released News Yesterday

NVIDIA Announces Four-for-One Stock Split, Pending Stockholder Approval at Annual Meeting Set for June

• announced that its board of directors declared a four-for-one split of NVIDIA’s common stock in the form of a stock dividend to make stock ownership more accessible to investors and employees.
• The stock dividend is conditioned on obtaining stockholder approval at the company’s 2021 Annual Meeting of Stockholders ― to be held virtually on Thursday, June 3, at 11 a.m. PT ― to increase the number of authorized shares of common stock to 4 billion shares.
• If approval is obtained, each NVIDIA stockholder of record at the close of business on June 21, 2021, will receive a dividend of three additional shares of common stock for every share held on the record date, to be distributed after the close of trading on July 19, 2021. Trading is expected to begin on a stock split-adjusted basis on July 20.

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