After Tesla and Apple announced plans to split their shares within weeks of each another, there has been a growing buzz that more companies with triple and quadruple-digit share prices will follow in their footsteps.
“Will, there be others that split? I have to say yes. Those [companies] can’t be the only ones,” he said, referring to Apple and Tesla. Indeed, Tesla and Apple are the only stock splits thus far in 2020, even though the average share price among publicly traded companies is $149.32, compared with an average share price of $51.08 in 1997 when there were 102 stock splits, marking the greatest number of splits over the past three decades, S&P Dow Jones Indices data show .
Talk of stock splits now come as mom-and-pop investors find themselves in a veritable golden age of trading, where commissions are at or near $0 and many brokerage platforms offer fractional share ownership of stocks, making purchasing small stakes in companies attainable and relatively low cost. “This new cohort of investors, the ones who love low-dollar amount stocks, will start buying and holding these best-of-breed names rather than the darned penny stocks,” he said.
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Splits is good because average investors will think they’re getting shares for cheap and they will buy.
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