Business
Tesla and Apple stocks surge after splits become effective – The Australian Financial Review
Apple shares closed up more than 3 per cent in New York overnight, while Tesla added almost 13 per cent.
Tesla’s current valuation is about $US464 billion, while General Motors, which delivered 2.9 million vehicles in the US in 2019, is worth about $US42.4 billion.
“We believe the stock split decision was a smart move by Tesla and its board given the parabolic move in shares over the past six months, with another stock split by Apple and likely other larger tech stalwarts will follow this same path over the coming months in our opinion,” Wedbush analyst Dan Ives wrote.
After closing north of $US2…
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