Yahoo Finance's Jared Blikre looks at the day's market gains, sector actions, JPMorgan Chase in the banking industry, travel stocks, and Nasdaq leaders.
Last week, electric vehicle powerhouse Tesla (NASDAQ: TSLA) was in the headlines for all the wrong reasons. The S&P 500 ESG Index, which is composed of companies that have carbon-neutral and socially responsible strategies in place, conducted its annual rebalancing in May and booted Tesla out. It was a blow for the company that prides itself on driving the green revolution, but according to S&P Global, it still falls short in other areas.
Stock splits have no impact on revenue or earnings, nor do they affect the valuation or market capitalization of a business. Not everyone has the money to buy a full share of higher-priced stocks like Tesla (NASDAQ: TSLA) or Shopify (NYSE: SHOP) right now. Of course, short-term tailwinds often make for a poor investment thesis, but Tesla and Shopify are both high-quality businesses with plenty of long-term potential.