Shares of chipmaker Nvidia moved lower Tuesday, ahead of a stock split.
In late May, Nvidia told investors that it would execute a four-for-one stock split beginning on July 20, that included shareholders of record on June 21. This would lead to an investor holding one share at $750 each to four at $187.80 each, but without any change to the chipmaker's market value.
The company’s shares have rallied around 52% so far this year, on the back of gaming and cryptocurrency mining and its expanding footprint in artificial intelligence.