1 Stock-Split Stock to Buy Hand Over Fist, According to 80% of These Wall Street Analysts
Stock splits are all the rage this year, as some of the largest technology companies in the U.S. sought to make their stock prices more accessible to retail investors. When purchasing a single share in a company costs hundreds or even thousands of dollars, it can be a hurdle for those looking to make lower-level purchases and/or those without access to fractional shares.
While a stock split doesn't add any intrinsic value to the company executing it, creating the potential to attract new investors is a positive. Since the Nasdaq-100 technology index is currently trading in a bear market with a year-to-date loss of 27.1%, the little things can make all the difference.
The most recent stock split in the tech sector was completed by cybersecurity powerhouse Palo Alto Networks (NASDAQ: PANW). Its 3-for-1 split went into effect on Sept. 14, tripling the number of its shares in circulation and shrinking its price per share proportionally, from $548.88 to $183.75. While that alone isn't a reason to buy the stock, Wall Street is incredibly bullish on the company.
Source Fool.com
