Dell’s Stock Price Cut By 50 Percent
Dell’s stock price per share was slashed in half on Tuesday following the spin off.
The company’s share price dropped from $111.51 per share Monday evening to $55.12 on Tuesday morning. Dell’s market valuation was cut in half following the completion. The move reflected the adjusted market value of the company post-VMware.
Dell’s market cap currently stands at around $211 billion as of Wednesday afternoon.
As of Wednesday afternoon, Dell’s stock was trading up less than 1 percent at $54.90 per share.
Livy Investment Research in a note today predicted that Dell’s stock could climb upwards of 30 percent over the next 12 months.
“Depending on the upcoming announcement of Dell’s fiscal third quarter results, combined with management’s outlook on the company’s performance for the rest of the fiscal year considering ongoing supply constraints which is expected to hamper the biggest sales quarter of the year, any optimistic sentiment could potentially boost the stock’s valuation prospects over the next twelve months by up to 30 percent,” said Livy Investment Research in a note today.
Livy Investment Research’s 12-month price target for Dell is $67.43.