Ep 39: What is a Stock Split? (looking at the Nvidia stock split 👀)

Jess: So NVIDIA is in the news again, and it seems like everyone is talking about them.

Jessie: Ticker symbol is N-V-D-A, if you want to look them up, if you don't know.

Jess: And we're talking about them, too, for good reasons.

Jessie: So the NVIDIA stock is now one of the big three in the S&P 500.

Jess: And as you've been saying, it is all about the AI narrative.

Jessie: I know we talked about NVIDIA earnings, and now they have announced a stock split.

Jess: Yes.

Jessie: So they announced that on their earnings, and they also announced a dividend increase of 150% from $0.04 per share to $0.10 per share on that same announcement.

Jess: I actually didn't even realize that they paid dividends.

Jessie: I just saw growth, and it's so small in comparison.

Jess: But yeah, small dividend.

Jessie: Even have a share buyback program, capital return plan.

Jess: All these things you can find on Investor Relations.

Jessie: We have a lot to talk about.

Jess: Yeah.

Jessie: Yeah.

Jess: I think that means we can talk about all that and what stock splits are and how they work.

Jessie: Here for it.

Jess: Let's go.

Jessie: You're listening to Market MakeHer, the self-directed investing education podcast that breaks down the stock market from her perspective.

Jess: We're her.

Jessie: That's us.

Jess: This is it.

Jessie: We are your hosts.

Jess: I'm Jessie Dinwi, learning alongside you and asking all the questions so you do not have to.

Jessie: And my job is to make sure there is no financial jargon, only explanation.

Jess: I'm not saying it because this is Taylor Swift, but you keep doing it to me.

Jessie: This is how we get sidetracked.

Jess: I'm blaming you, though.

Jessie: It's fair.

Jess: And I'm Jess Inskip, what we call the resident finance expert.

Jessie: And my job is to make it make sense and try to get Jessie to say as many Taylor Swift references as I can for the fun of it at this point.

Jess: Every time.

Jessie: Yeah.

Jess: Every episode we go through this.

Jessie: Thank you.

Jess: Yep.

Jessie: Leaving the ad lip in.

Jess: Right.

Jessie: Stock splits.

Jess: Now I know them.

Jessie: Okay.

Jess: Are you ready? Yes.

Jessie: Okay.

Jess: First question.

Jessie: What is a stock split? So a stock split, it's where the stock splits, I'm just kidding, but it is.

Jess: So they create either more or less shares.

Jessie: There's actually two types of splits and it's a type of corporate action.

Jess: Stocks go through corporate actions all the time.

Jessie: If they announce a special dividend outside of their quarterly, they may do a stock split.

Jess: So a forward split like NVIDIA is doing, and we'll talk about that in a second, and a reverse split.

Jessie: They also could do a spinoff.

Jess: Like remember when eBay and PayPal used to be a thing, eBay spun off PayPal into a completely separate stock.

Jessie: Yeah.

Jess: So it came to separate stocks.

Jessie: So there's lots of corporate actions that these companies can do, and sometimes it requires board approval, or you may even vote on it on those proxy statements that you get.

Jess: Oh, that's stuff that we can vote on when we're shareholders.

Jessie: Yeah.

Jess: Because you actually vote on those things.

Jessie: Yeah.

Jess: See? Absolutely.

Jessie: So go ahead and pay attention.

Jess: I've never voted on those things, and this is something you could have actually voted on.

Jessie: Your vote counts.

Jess: It does.

Jessie: Not a lot, because it's little, but unless you own a lot of shares, you'd have to own a majority, though, right? For it to have any weight, or like big weight.

Jess: Then you'd be called a controlling shareholder, and you'd have to file all your buys and sells on forms.

Jessie: Okay.

Jess: Yeah.

Jessie: That's why you can see Nancy Pelosi's, because there are a lot.

Jess: Oh, that makes sense.

Jessie: Okay.

Jess: And the board and stuff.

Jessie: People don't know what I buy and sell.

Jess: Right.

Jessie: I actually did wonder about that.

Jess: That's good information.

Jessie: Yeah.

Jess: Cool.

Jessie: You said forward split, and reverse split, and a stock split.

Jess: So what is a forward split? So forward split, this is what NVIDIA is doing.

Jessie: Okay.

Jess: Now I'm really conscious of how I say NVIDIA.

Jessie: You say it right.

Jess: We've always done it.

Jessie: It's fun to say it right, but I do hear some people say NVIDIA, or no NVIDIA, it's NVIDIA.

Jess: NVIDIA.

Jessie: NVIDIA.

Jess: NVIDIA.

Jessie: NVIDIA.

Jess: Olivia was sad.

Jessie: Oh, it's going out of my mouth.

Jess: NVIDIA, not NVIDIA.

Jessie: I'm keeping that.

Jess: So forward stock split, NVIDIA is doing a 10 for one.

Jessie: So that essentially means for every one share, you're going to get 10 shares.

Jess: So you really get nine more shares, but- Wait, if you already own one share of an NVIDIA stock, you now own 10? That's correct.

Jessie: Oh, cool.

Jess: Okay.

Jessie: That's exactly what will happen.

Jess: It does nothing to the market cap, and it equals to exactly the same thing.

Jessie: So imagine you have, and this is for easy math that everyone could do in their head, because we know that you're listening to this and whatever you're doing right now.

Jess: You have $100,000 worth of NVIDIA stock.

Jessie: So you've got 100 shares worth $1,000 each.

Jess: If you do, congratulations.

Jessie: Easy math there.

Jess: So $100,000, because it's about $1,000 right now.

Jessie: For every one share, there's going to be 10 shares.

Jess: You divide the price by 10.

Jessie: So instead of it being $1,000, it's going to be $100 a share.

Jess: Instead of having 100 shares, you're going to have 1,000 shares.

Jessie: So 1,000 shares at $100 per share equals $100,000, or 100 shares at $1,000 per share equals $100,000.

Jess: So it equals the same exact thing.

Jessie: And this is why it's important to think about when we talk about market cap.

Jess: The market cap stays the exact same, but share price adjusts.

Jessie: And there's more shares or less shares.

Jess: And then the price adjusts.

Jessie: So the market cap stays basically the same is what happens.

Jess: OK.

Jessie: That's interesting.

Jess: I would have thought that the market cap would move, but I guess it doesn't.

Jessie: Nope.

Jess: It stays exactly the same.

Jessie: And they can do this for a lot of different reasons.

Jess: But NVIDIA told us specifically that they were doing this to make it more accessible.

Jessie: Because a $1,000 a share stock is expensive.

Jess: But I already bought a fraction of a share of one.

Jessie: So what's the difference? See, and that's so interesting.

Jess: Stock splits have been around for a very long time.

Jessie: Fractional shares have not.

Jess: And not everyone can access a fractional share.

Jessie: Not every brokerage firm has it.

Jess: You have to have a certain account.

Jessie: Yeah.

Jess: OK.

Jessie: So what happens to the fractional share of the stock that I bought? Is that split into 10? Well, I mean, it should be adjusted.

Jess: You should have more.

Jessie: OK.

Jess: But it's really by brokerage firm.

Jessie: And what's great is when they have these type of things, you can go on any corporation's website, go all the way to the bottom where the little links are.

Jess: And there should always be something called investor relations.

Jessie: NVIDIA actually had a stock split FAQ with that question.

Jess: Go through the investor relations and look up some things.

Jessie: I actually didn't even know they were doing stock splitting until you told me today.

Jess: So here we are.

Jessie: Yeah.

Jess: Stock split.

Jessie: OK.

Jess: So I can see what's happening with my fractional share.

Jessie: Yes.

Jess: You can cut out that um.

Jessie: I'm going to go back to this.

Jess: So then what is a reverse split? We know that NVIDIA did a forward split with their stock split, but what would a reverse split be? Yeah.

Jessie: A reverse stock split.

Jess: It's just the opposite.

Jessie: And it's all to appeal to investors and there are certain listing requirements.

Jess: So stocks, for example, can't be listed on the NASDAQ if they go under a dollar a share.

Jessie: Oh, right.

Jess: So you could do a reverse split, maybe a 10 for one.

Jessie: In this case, if you have 10 shares, you'll get one share.

Jess: And if you had 10 shares at a dollar, then you'd have one share at $10.

Jessie: So it's a way to increase the stock price, but it doesn't adjust the market cap.

Jess: Can you only do a reverse split if you already did a forward split, like you're just undoing it? No.

Jessie: There's lots.

Jess: There's lots of reasons to do it.

Jessie: I mean, we haven't talked about exchange traded notes yet, but there was one, this really interesting incident a couple of years ago, but it was one of the ETNs and it went negative.

Jess: So they had to do a split in order to make it positive in value.

Jessie: That's a whole other rabbit hole I would love to go down, but today's not that day.

Jess: See, not me going down rabbit holes with 10.

Jessie: It's me.

Jess: So then why do companies do a stock split? So to make it more accessible, like in this case for Nvidia, but they also do it to increase liquidity in this case, the forward split, because now there's more shares and liquidity means more volume, more traded, not like Nvidia has that problem, but it's one way to do that.

Jessie: If you have a lot of trading, that means a lot of volume.

Jess: But if you don't have a lot of trading, little volume, the spread between the bid and ask, so the price where you buy and sell tends to be really, really wide.

Jessie: And that can be an issue.

Jess: We don't talk about those type of stocks very much on this podcast.

Jessie: Those are stocks that aren't in the S&P 500, but that's why some companies would do that.

Jess: Okay.

Jessie: Like some ETFs don't have a lot of liquidity.

Jess: That's where that would be applicable.

Jessie: And those can do splits too.

Jess: It's all filing, legal paperwork and things like that.

Jessie: So did Nvidia say that they were doing this to make it more accessible for everyone? They did.

Jess: Yep.

Jessie: That's exactly what he said.

Jess: I think we can find his quote.

Jessie: Because there are fractional shares now, so I was kind of wondering why, but I guess instead of owning a fraction of a share, you could potentially now own a full share and people kind of like having a whole share of something.

Jess: They do.

Jessie: And so it's this accessibility and I think it's so interesting.

Jess: I think I even was talking, I can't remember who I was talking about it, but earlier this week we were talking about stock splits and how it affects the stock market.

Jessie: And we pulled some statistics which we can go through and how generally it's good because it makes it more accessible, but fractional shares is a newer product, like you stated, that does make the stock market more accessible, but there's more retail participation than there has ever been since COVID.

Jess: So market dynamics are a little bit different.

Jessie: We're talking about short squeezes and gamma squeezes, and so it's going to be interesting.

Jess: I don't know if we can really rely on the past indications of performance, meaning I want to see what happens.

Jessie: I would assume that more people are going to be buying the stock and like it could make the stock price go up, right? Yeah.

Jess: So it's still a function of supply and demand if this makes more demands because it's more accessible.

Jessie: But then what's interesting is the market's forward looking, so it might've already anticipated that because it keeps making new highs.

Jess: It's at almost $1,200 or a little over $1,200 right now, it's crazy.

Jessie: And then did, so Nvidia must've announced this a while ago that they were going to do this? They announced this on their recent earnings call.

Jess: Oh, okay.

Jessie: Yep.

Jess: They announced their dividend and a share buyback program, which I don't think we talked about share buybacks.

Jessie: Yeah.

Jess: How does that work? What's a share buyback? So repurchasing the stocks, I guess today's episode is all about not necessarily market cap, but value of price without affecting market cap, meaning they can buy back shares and that's normally a very good thing.

Jessie: That's a positive thing when they announced that on earnings calls and Nvidia has a buyback program in place.

Jess: It's a way that they return capital back to investors, meaning- Like, I mean, can't you just, do they buy it for more than the market? Nope.

Jessie: They just repurchase it from the market.

Jess: And there's a couple of thoughts behind this.

Jessie: One, if a company is repurchasing the shares from the market, they might say this is a really good price and valuation.

Jess: We know, because they know what's coming in the pipeline.

Jessie: Nvidia, I'm sure has some great stuff for AI that haven't even told us yet.

Jess: So that's a good insight, but that's speculation, right? But as an individual shareholder, it increases the share price because it gives you a larger stake in the company because there's fewer shares in circulation.

Jessie: So kind of the opposite of what they're doing here.

Jess: Yeah, because now they're making more shares available.

Jessie: So then a company would do stock splitting for a variety of reasons.

Jess: A huge variety.

Jessie: It might not necessarily be telling us exactly what they have planned or what they have in mind or why they're doing it, but they're doing it.

Jess: And now they're more, basically, it's cheaper to buy a share, Nvidia stock.

Jessie: Or what is the stock split happening? So as of market close, when this episode's released, so yeah, Friday evening and Monday, you'll see there's new shares in your account.

Jess: So does that mean it looks like the price is going down when you look at the stock? It could.

Jessie: It depends on the broker.

Jess: And some people freak out.

Jessie: But then adjustments automatically happen.

Jess: So this is the sixth time Nvidia has split its stock.

Jessie: See, I didn't even know they split their stock before.

Jess: Yeah.

Jessie: No idea.

Jess: Well, and you wouldn't because you know what happens automatically? You know, when you Google or you go to Yahoo Finance or wherever and you put in a stock symbol.

Jessie: Stay with us.

Jess: We'll be right back.

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Jessie: It adjusts automatically.

Jess: Oh.

Jessie: So, because when you want to analyze and you look at the price over time, it's adjusted for the split.

Jess: So that way it's not crazy diluted.

Jessie: Because it would be weird if it's like a big down.

Jess: Yeah.

Jessie: You know.

Jess: Exactly.

Jessie: Data.

Jess: Yeah.

Jessie: But all that data is adjusted.

Jess: So you wouldn't know unless you literally went to their investor relations page and looked up the history.

Jessie: But that's so weird because we know that it's like at $1,200 now or whatever, but then it's going to be less.

Jess: So how did you find out about that? Like I guess it depends on the...

Jessie: The investor relations.

Jess: Yeah.

Jessie: The investor relations would show you like this stock at its highest point before the last split was $1,200 or whatever.

Jess: Oh, no.

Jessie: It would adjust that for the split too.

Jess: All time high would be split adjusted.

Jessie: Every bit of it would be split adjusted.

Jess: You wouldn't know unless you were looking.

Jessie: And I think that's a good thing.

Jess: Apple did a split when they're around $500 a share.

Jessie: And now it's about $200.

Jess: Didn't go down from $500 to $200.

Jessie: It was split and adjusted.

Jess: So they just kind of like change the...

Jessie: I'm thinking of like that bar graph line.

Jess: Yes.

Jessie: Line graph, I mean.

Jess: They adjust that.

Jessie: Line graph just like readjusts to the new split price and like even retroactively goes back and like adjust the numbers.

Jess: Yes.

Jessie: Okay.

Jess: That's interesting.

Jessie: And fun fact, it can be a line chart, can be a candlestick chart, can be a bar chart, can be an area chart.

Jess: So they're all adjusted.

Jessie: They're all adjusted.

Jess: Across all brokerage firms, like points of data.

Jessie: Yes.

Jess: They're all normally use the same type of data feed.

Jessie: Yeah, that's why I was wondering.

Jess: Usually that's the basic back set.

Jessie: Who's going in and changing all that, but...

Jess: The data providers.

Jessie: That's us.

Jess: All the things.

Jessie: The data providers, which is NASDAQ or FaxSet is usually the data.

Jess: That's on the backend.

Jessie: Interesting.

Jess: And stock exchanges, redistribution of quotes, all these agreements.

Jessie: Yeah.

Jess: Yeah.

Jessie: Do you want to know what happened to some stocks that split? I think the stats are really interesting.

Jess: I thought these were interesting.

Jessie: I'd actually didn't even know these until preparing for today's episode.

Jess: So this one is from Statista that pulled from Bank of America.

Jessie: Great research there.

Jess: But stock splits usually outperform the market.

Jessie: So they looked at the average 12 month return of after the announcement of a stock split versus the S&P 500.

Jess: So of all time, we know the S&P 500 average return is about 10%.

Jessie: So it's 11.9% on par.

Jess: But stocks that split their 12 months return after the announcement was 25.4%.

Jessie: So outperformed the market by quite a bit.

Jess: Wow.

Jessie: That's very interesting.

Jess: But if we look at Nvidia specifically, and I think the dates are interesting though.

Jessie: We need to be cognizant of what happened around their dates or their last splits because there was some recessions and some bubbles.

Jess: So are they foreshadowing something? I don't know.

Jessie: Oh my God.

Jess: But, yes.

Jessie: So the first one they announced was in June 2000, they did a two for one.

Jess: That one in 12 months later was up 28%.

Jessie: Two months later, down 52% because dot-com bubble.

Jess: Yeah.

Jessie: 2001, did another one, down 72% in a year.

Jess: Two years down 50% so covered a little bit.

Jessie: 2006, up 1%.

Jess: So it was up twice, but up 1% isn't up that much.

Jessie: So that one was flat.

Jess: I would call it in 2007, down 70% one year later, but that's because of the great financial crisis.

Jessie: But in 2021, their most recent was down 4% a year later, but in 24 months, it was up 145%.

Jess: It's starting to work now.

Jessie: Well, but that's 12 months and then two years later, and that was a much younger company and now it's a mature company.

Jess: And I think that's an important piece of it.

Jessie: And those were also surrounding recessions and bubbles and really major stock market events and things tend to go down in sympathy.

Jess: But if we look at it, the return since the stock split, whoa, 42,000% since the 2001.

Jessie: That's a lot.

Jess: That was a large increase.

Jessie: It was a huge increase.

Jess: Let's talk about the stock split types though.

Jessie: I don't know if we've covered that.

Jess: I don't think we covered that.

Jessie: So when a company does a stock split, there are different types of stock splits you can do.

Jess: They've done two for one, three for two, four for one.

Jessie: How many different stock split types are there? I mean, theoretically, I guess you could do whatever.

Jess: You can do whatever you want.

Jessie: You can be like, I want to split.

Jess: I want to do a hundred to one stock split.

Jessie: We're going to take this.

Jess: But then it would be too low.

Jessie: So you have to like, they probably have, I don't know, mathematicians, data scientists, helping them figure out the right amount to split it based on what it's worth the time and like maybe what they're going to do or what their plans are.

Jess: Exactly.

Jessie: Well, do you know Berkshire Hathaway doesn't believe in stock splits? That's why that's the most expensive stock.

Jess: Let's see how much it is right now.

Jessie: One share.

Jess: Never split a stock.

Jessie: Never split it.

Jess: Berkshire Hathaway is $620,000 for one share.

Jessie: $620,000? Correct.

Jess: I did not know that it was that much at all.

Jessie: I had no idea.

Jess: It's...

Jessie: Yeah.

Jess: What is the most expensive stock? Is that the most expensive? That's it.

Jessie: Wow.

Jess: It's Berkshire Hathaway.

Jessie: So they're never going to split.

Jess: They're just like, no, we want to be...

Jessie: They don't believe in it.

Jess: Yeah.

Jessie: The lowest they've been in 52 weeks is $502,000.

Jess: So it's made quite a bit.

Jessie: It's a great example if you need money to make money and Berkshire Hathaway is Mr.

Jess: Buffett's.

Jessie: Yeah.

Jess: Yeah.

Jessie: You can do fractional shares of that one? It depends on the firm.

Jess: That's a firm specific thing.

Jessie: Yeah.

Jess: It's not something offered by them.

Jessie: So that's not up to them.

Jess: It's up to the firm.

Jessie: Like they can't say like, no, I don't want any firms to issue fractional shares ever.

Jess: They can't make that choice.

Jessie: Okay.

Jess: No, it's the way the firm does that.

Jessie: Because the firm could do it in a variety of different ways.

Jess: It's all on the backend.

Jessie: So it might be where they do have a collective pool because you can't go on the market.

Jess: You don't see fractional shares trading on the market.

Jessie: It would be a combination.

Jess: So they would have an internal account of some sort, or they would pull stuff together, meaning multiple people have enough buys of a fraction to make one share.

Jessie: They would put that together and then they would offset that with an inventory.

Jess: I didn't think about that.

Jessie: When I'm buying a fractional share, it's not like they're just selling me a little fraction share.

Jess: It's like somebody's share, somebody owns that share and they're giving me a fraction of it.

Jessie: Yeah.

Jess: And it's probably the firm or they're pulled together.

Jessie: They all do it differently.

Jess: Right.

Jessie: Same with the dividend reinvestment programs.

Jess: They all do them differently.

Jessie: Those can be from the stock specifically, or your firm might.

Jess: That's another reticle.

Jessie: Okay.

Jess: We won't go down that, but it's good things to know or things that I like to ask.

Jessie: Exactly.

Jess: Yeah.

Jessie: I think that that's the statistics.

Jess: That's what they're doing.

Jessie: It's something that happens often.

Jess: Options also get adjusted.

Jessie: You can see that on the OCC.com.

Jess: But I think what's really important is to check the investor relations.

Jessie: Yeah.

Jess: And like you said, Nvidia has that FAQ for their investors as well.

Jessie: So if you have Nvidia stock and you have more questions, they have the FAQ where they tell you probably all the questions that you are asking, they have it answered for you already.

Jess: Yeah.

Jessie: Which is helpful.

Jess: Exactly.

Jessie: And I went through it.

Jess: We covered most of what is on there.

Jessie: I mean, the fun one is, what do I do with my existing Nvidia stock certificate? They don't issue stock certificates anymore.

Jess: I was wondering about that.

Jessie: I'm like, who has a certificate? Lots of people have them.

Jess: Oh, because this is an old stock.

Jessie: I mean, this has been around since the 90s, right? Yeah, exactly.

Jess: That's a stock split.

Jessie: It's intended to increase retail participation, make it more affordable.

Jess: Nvidia's already a high beta security.

Jessie: I think it will have a positive impact because a lot of people could say, oh, I can buy it.

Jess: And they're going to buy it.

Jessie: Oh, I think this is definitely a way for retail investors to go buy Nvidia that have been like, you know, upset that maybe they didn't buy it in time or something and now it's expensive and they still want it because you still see that this company was doing a lot, you know? And I have a question, though.

Jess: It did say, when can you start trading additional stock split shares? And they said not until June 10th.

Jessie: Why is that? Post split date.

Jess: So tomorrow is the 7th.

Jessie: So it's going to be effective as of market close.

Jess: On the 7th, it's normal trading.

Jessie: So it'll be $1,000 a share.

Jess: And then on the 10th, it'll be $100 a share.

Jessie: Around.

Jess: Yeah.

Jessie: Yeah.

Jess: This is going to be 15 minutes.

Jessie: And we still went into.

Jess: That's okay.

Jessie: I want to tell our listeners, we cover everything here.

Jess: You want to know it.

Jessie: And if you have questions about stock splitting, market cap, let us know.

Jess: We'll have a whole episode about market cap.

Jessie: Yeah.

Jess: We talked about the stock market.

Jessie: It's in the name.

Jess: A stock is literally splitting into pieces.

Jessie: Yeah.

Jess: It's in the name or reverse split where they remove that splitting, put it all together and you get the whole cake back.

Jessie: The whole cake.

Jess: Oh yeah.

Jessie: That was a great analogy.

Jess: Let's get the analogy.

Jessie: Yeah.

Jess: Got a cake.

Jessie: And if we've got a big sheet cake, you know, but then you're trying to give it to a bunch of kindergarteners, you have to make it more accessible.

Jess: So instead of the bigger pieces, you just cut it into a bunch of smaller pieces.

Jessie: The cake stays exactly the same.

Jess: It's just the pieces are smaller.

Jessie: I feel like it's the opposite.

Jess: If the kindergartners are eating it, they want the big pieces.

Jessie: If adults are also eating it and they just like want a sliver of a piece.

Jess: That's true.

Jessie: You cut the dish, the already cut big pieces into smaller pieces.

Jess: That's very true.

Jessie: I always take the smaller, the smaller bit and the kids want the big ones.

Jess: I just want a sliver.

Jessie: That's good.

Jess: But there wouldn't be, it wouldn't be accessible.

Jessie: There wouldn't be enough for all kids.

Jess: So we're making more pieces of the cake.

Jessie: So every piece.

Jess: Yeah.

Jessie: It's really splitting.

Jess: Send the name.

Jessie: Yep.

Jess: Send the name.

Jessie: Send the name.

Jess: Just want to say that as much as possible.

Jessie: We're coining that phrase.

Jess: We are.

Jessie: And a new phrase that will be on some merch very, very soon.

Jess: We're excited.

Jessie: Also, we have to announce that we are officially going to take on the name that we are your finance mothers.

Jess: Are we finance mothers or finance mommies? Finance.

Jessie: Finance.

Jess: Well, I mean, they're both in the same.

Jessie: They are.

Jess: They're mom.

Jessie: Okay.

Jess: I'm going to say mother.

Jessie: I'm going to say mommy.

Jess: Because you can be the mommy.

Jessie: I changed my thing on TikTok.

Jess: It says Finmom now.

Jessie: Oh, Finmom.

Jess: Okay.

Jessie: That's cute.

Jess: Finmom.

Jessie: Yeah.

Jess: So somebody commented it.

Jessie: They kept calling me Finmom.

Jess: And I thought about it.

Jessie: I'd be like, go to Finmom if you need more information.

Jess: But come to auntie if you want maybe an abridged version.

Jessie: I'd love to be an auntie.

Jess: So, because I'm a mom.

Jessie: I'm a mom.

Jess: I'm a mom.

Jessie: I'm a mom.

Jess: I'm a mom.

Jessie: I'm a mom.

Jess: I'm a mom.

Jessie: I'm a mom.

Jess: I'm a mom.

Jessie: I'm a mom.

Jess: I'd love to be an auntie.

Jessie: So because, and I thought about it.

Jess: I posted TikTok and I was like, I am not your mommy, but I am your mother because a mother raises children to be independent and on their own.

Jessie: And like, this makes sense.

Jess: Here's a cool aunt.

Jessie: Yeah.

Jess: That everyone thinks is awesome.

Jessie: And then when I tell them no, you're just like, well, actually.

Jess: Let me show you how to make your money.

Jessie: It's simple.

Jess: Okay.

Jessie: Stock splitting.

Jess: It's just a sheet cake.

Jessie: That's split into more pieces than we're there.

Jess: That's all.

Jessie: And I'm like, well, do you know why they do that? Do you find it? Yeah.

Jess: But on the other, like the other side, I've asked me at least other questions.

Jessie: Yeah.

Jess: But I had to say something like, mom, you're embarrassing me.

Jessie: Well, there was way more to stock splitting than I realized.

Jess: As usual.

Jessie: Yes.

Jess: Rabbit holes.

Jessie: As usual.

Jess: Mm hmm.

Jessie: We can't avoid them.

Jess: No, we can't.

Jessie: You know what? It's fine though.

Jess: It's fine.

Jessie: It's a rabbit hole.

Jess: So much more.

Jessie: It's all in investor relations.

Jess: I don't think we ever talked about that before.

Jessie: Go to investor relations.

Jess: You'd see all the company's events.

Jessie: Listen to their quarterly earnings calls, their commentary.

Jess: If you really want to do some deep dives and understand what's going on with the company, check it out.

Jessie: Mm hmm.

Jess: Yeah.

Jessie: Check out those investor relations.

Jess: And don't forget to leave us a review or give us some stars.

Jessie: It helps us grow in the best way you can support us right now until I get the Patreon up.

Jess: And then you can also support us or donate then too, if you would like to do so with your own money.

Jessie: We'd appreciate it.

Jess: Yes.

Jessie: Please.

Jess: We show up for you.

Jessie: Show up for us.

Jess: Yeah.

Jessie: Just buy some stars.

Jess: It's all basket right now.

Jessie: It's set.

Jess: It's set.

Jessie: And don't forget to subscribe.

Jess: We're working on some very cool stuff that we will show up in your inbox very soon.

Jessie: Promise we won't spam you because we have day jobs.

Jess: You'll get an email from us.

Jessie: Yeah.

Jess: I mean, I haven't sent an email out in six weeks, so I'm working on it and you'll be getting that soon.

Jessie: Yeah.

Jess: But when you do, you know.

Jessie: It's valuable.

Jess: Yes.

Jessie: Not for the sake of sending one.

Jess: All that.

Jessie: And remember, when you build knowledge, you break barriers.

Jess: Break down those barriers..