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AAPL Stock: 101.59 ( + 0.73 )

Printed from http://www.macnn.com

Apple stock rises on Tuesday rumors of stock split

updated 02:46 pm EST, Tue February 26, 2013

Plan could be announced at shareholder meeting

Apple share prices have risen sharply in Tuesday trading on rumors of a stock split, reports note. The rumor appears to have started with a Twitter post by Douglas Kass of Seabreeze Partners Management. "High above the Alps my Gnome is hearing a rumor that Apple will announce a stock split at tomorrow's shareholder meeting," he wrote.

Apple has come under fire from analysts and investment firms for not giving more opportunities to investors. The company now has over $137 billion in cash reserves, for instance, but only recently began paying back investors in the form of dividends. It's in fact facing two lawsuits -- most notably one by Greenlight Capital -- over a vote that would've appeared at tomorrow's shareholder meeting regarding preferred stock. That vote has been blocked by the courts, and may not reappear at a later time unless Apple wins both cases.




by MacNN Staff

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  1. bjojade

    Fresh-Faced Recruit

    Joined: 06-07-07

    How does it help?

    What does a stock split matter much? I guess if you only had $300 to invest in Apple, you couldn't afford the higher stock price, but other than that, the value of 2 stocks at half the price is identical to 1 full priced stock.

  1. jimmirehman

    Fresh-Faced Recruit

    Joined: 01-18-08

    Re: How does it help?

    Think of all the people who can't or won't invest in Apple @ $448 per share, but can or might @ $224 per share. So not only does the company double its footprint in publicly traded shares (marketshare) it also opens its doors to a whole new tier of investors.

  1. bobolicious

    Dedicated MacNNer

    Joined: 08-15-02

    Would 10:1

    ... be better to enable retail investors ...?

  1. chas_m

    MacNN Staff

    Joined: 08-04-01

    Next time I or someone else points out that AAPL is being manipulated and we get teased for conspiracy theory, I'm going to pull this story out.

    After CAUSING the rise in price with his claim, Kass later denied the whole thing, calling it "impossible." And today we see the reactive fall in price. Kass sold on the run-up: Rotten rumors of impossible Apple stock split helps fund manager clear profits

    So, as has now been proven, ONE GUY with a twitter account is all it takes to manipulate the stock. And I will bet you he'll never be prosecuted for it, either.

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