by Bob Rinear
The International Forecaster
This week, NVDA did a 4 for 1 stock split. Oh the memories!
Back “in the day” as folks like to say, during the madness that was the NASDAQ during the late 90’s, stock splits were akin to “gold.” So much so, that we actually sold “split pagers” to subscribers.
Really? Indeed. The second a stock split crossed the Dow Jones wires, we’d instantly send it to hundreds and hundreds of pagers. It would have the symbol, the type of split (like 2 for 1 or 5 for 2) and the date of the split.
Why would someone pay me for that type of information? Well, the NASDAQ was in a bubble like we’d never seen. And Companies took advantage of that bubble by splitting their stock, thus making it cheaper for more masses to enter, and the stock would zoom back up. But traders often saw that the minute a split was announced, it would start climbing higher. They wanted in quickly and cell phones weren’t that popular yet. Hence the pager.