2 Stock-Split Stocks That Could Soar in 2023
This year, some of the most talked-about companies completed stock splits. These operations offer existing shareholders more shares -- but the value of their investment and the market value of the company remain the same. The result is a lower price for each individual share. And that opens up the stock to a broader range of investors.
Good news, right? Yes. But these operations don't necessarily boost a stock. In fact, two of this year's big stock split stocks are heading for more than a 40% annual loss. I'm talking about Amazon (NASDAQ: AMZN) and Tesla (NASDAQ: TSLA). These difficult times are temporary, though. And Amazon and Tesla each look ripe for major gains. They may even soar in 2023. Let's take a closer look.
Amazon shares climbed in recent years, reaching a high of more than $3,600 late last year. The e-commerce giant completed its 20-for-1 stock split back in June. But one main thing may have discouraged investors to pile in at the lower per-share price. And that's the impact today's economic woes have had on Amazon's earnings.
Source Fool.com
