The Tesla and Apple stock splits took effect today and both stocks rallied with the lower share prices to close at all-time highs.
$AAPL split 4 for 1 and traded up 3.4% to close at $129 while $TSLA split 5 for 1 and traded up a whopping 12.5% to close at $498.
$TSLA split 5 for 1 and the stock still closed today above the $420 Funding Secured level. It’s Bonkers.
Some think this whole thing is crazy given the seemingly unhinged moves we’re getting from these stocks and others but really it doesn’t matter whether it’s crazy or not.
It’s just reality. The stocks are going higher. They don’t care about the PE Ratio or what the man says on the financial television or what you think for that matter.