Walmart's Stock Is Gravitating Toward an All-Time-High: Could a Stock Split Make It a Magnificent Buy?
's (NYSE: WMT) stock is splitting. The world's largest retailer surprised investors on Tuesday by announcing a 3-for-1 stock split.
In recent years, stock splits have become associated with high-flying tech stocks like those in the "Magnificent Seven." Walmart's announcement is a reminder that stock splits can take place at any company at any time, even if the share price isn't exceptionally high. Walmart shares closed Wednesday at $165.25, approaching an all-time high.
The split will be the retailer's first since 1999, reflecting the fact that the stock has mostly struggled over the past 25 years. It fell behind Amazon and underperformed the S 500, even as the business has done well in recent years.
Source Fool.com