Investors get excited about stock splits for two reasons. First, they make stocks cheaper. That change is entirely cosmetic because the value of the business stays the same, but a lower share price means the stock is accessible to more investors. Second, stock splits can indicate quality businesses because they follow substantial and sustained share price appreciation, which rarely happens by accident.

Indeed, the companies listed below have split their stocks somewhat recently, and all of them possess some sort of competitive advantage.

Cathie Wood's Ark Invest has a stake in most of these companies. But the innovation-focused investment firm is particularly bullish on Tesla and Shopify. Its positions in those companies account for 7.5% and 2.9% of its portfolio, respectively.

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Source Fool.com