eToro Analyst Believes Apple and Tesla Could Soar 30% After Splits

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eToro analyst, Adam Vettese believes Apple and Tesla shares could surge more than 33 percent after their stock split.

eToro analyst, Adam Vettese believes Apple and Tesla shares could surge more than 33 percent after their stock split, according to Markets Insider.

Vettese analyzed 60 years of data on share performance after a stock split. He found that, on average, companies that enact stock splits see their share prices surge by more than 33 percent in the following 12 months.

Tesla is enacting a 5-1 stock split on August 31. Apple is enacting a 4-1 stock split on the same date. "Tesla and Apple are already two of the best-performing companies on the US stock market and all the evidence suggests their upcoming stock splits could act as a tailwind for the value of their shares," he said. "Retail investors are increasingly engaging with the financial markets, and many see the benefit in investing in the companies who produce products they love and use daily. Tesla and Apple are two such companies."

Apple has split its shares four times before, with the value typically rising by an average 10.4 percent in the following 12 months. In the 12 months after its June 2014 split, Apple shares surged 36.4 percent.

Tesla is up 850 percent year-over-year, exploding in recent months.

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