Enticed by stock splits at Apple Inc. and Tesla Inc., demand from amateur equity enthusiasts was again thrust into plain view -- when their orders crashed discount-brokerage websites all over Wall Street. The wailing crush of buying added $200 billion to the market value of the two tech giants, extending mammoth runs.
Now those gains are history, in one of the bigger spasms of the post-crisis recovery trade. A few days of gut-wrenching declines in Apple and Tesla were the harrowing welcome for anyone who bought in the split-induced frenzy -- a reminder that stocks don’t always go up, to correct a favorite saying.
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