Tesla, Amazon Stock Splits Trigger Retail Stampede
- Electric-vehicle maker jumped 8.1% on plan for new split
- Tesla was most-purchased stock among Fidelity customers Monday
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Recent proposals from Alphabet Inc., Amazon.com Inc. and Tesla Inc. tell us one thing: Stock splits can spark big rallies as retail traders pile in.
Tesla surged 8% Monday, adding about $84 billion to the company’s market value, after saying it’s planning a second stock split in less than two years. Amazon jumped more than 5% the day after announcing a 20-for-1 split this month and the stock has been on a tear ever since.