On Thursday (June 6), before the U.S. stock market opened, Nvidia (NASDAQ:NVDA) rose 1.05%, achieving four consecutive increases, temporarily sitting firmly on the second throne of the U.S. market value.
On the news, this Friday (June 7), Nvidia’s stock price will begin to implement a “1-for-10” stock split plan after the U.S. stock market, and will be traded at the adjusted price starting next Monday (June 10). The so-called stock split is to increase the number of existing outstanding shares by a certain proportion, while reducing the par value of each share proportionally, thereby reducing the price of a single share.
After Nvidia’s latest stock split in 2021, its share price rose by 6.46% in two weeks and nearly 40% in six months. Since the split, its share price has accumulated a surprising increase of more than 500%.
Wall Street is unanimously optimistic about Nvidia’s future stock price. Bank of America analysts raised Nvidia’s target share price from $1,320 to $1,500, which means that the stock will rise by 25%, which is currently the high point of Wall Street’s target price.