Not every reaction is instantaneous. Referees in football sometimes take a while to make a call after a play ends. Iron exposed to oxygen causes rust, but only slowly. 

Changes can also affect stocks well down the road. There's a case to be made that we're seeing such a delayed reaction occur before our eyes with the stocks of Amazon (NASDAQ: AMZN), Google parent (NASDAQ: GOOG) (NASDAQ: GOOGL), and Tesla (NASDAQ: TSLA). Are last year's stock splits for these three giants paying off now?

All three stocks have delivered explosive returns so far in 2023. Alphabet ranks as the least spectacular performer with a gain of "only" a little over 40%. 

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Source Fool.com