Online bank Net.B@nk (Nasdaq: NTBK) capped off a remarkable nine days on Tuesday by announcing a 3-for-1 stock split. The split will occur on May 14, and be payable to shareholders of record as of the close of business on April 23.
On April 5, Net.B@nk was a largely unheralded stock that was trading at 76-1/2. But that day the company announced that it opened a record 8,000 new accounts during the first quarter for this year. Net.B@nk also benefited from a bullish story in MSN MoneyCentral that same day.
NetB@ank stock has been on the tear of tears since then, more than tripling in little more than a week. Shares of NetB@ank closed up nearly 50 percent on Tuesday, climbing a mind-numbing 76-33/64 to 235-1/64. Need it be said that this is an all-time high?
Let’s put it another way. NetB@ank stock climbed more points on Tuesday than it was worth on April 5th.