Beyond Stock Splits: 3 Top Growth Stocks to Buy Now

Stock splits have been getting a lot of attention lately, with several notable companies initiating actions to increase their share counts significantly without changing their valuations. For instance, Amazon finalized a 20-for-1 stock split on June 6 while Shopify finalized a 10-for-1 split on June 29. Alphabet will initiate its 20-for-1 stock split on July 15.

What investors need to remember is that stock splits do not intrinsically change the business. A split only breaks one share into a higher multiple with the split shares together equaling in value the formerly single share. The company's market cap and other financial metrics are adjusted to remain the same or are unaffected.

This suggests that looking at a company's fundamentals is going to be a lot more useful when making investment decisions about it. It's the fundamentals of these three stocks -- MercadoLibre (NASDAQ: MELI), Datadog (NASDAQ: DDOG), and Doximity (NYSE: DOCS). -- that make them shine. Forget stock splits and pay attention to the potential these growth stocks offer long-term investors.

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Source Fool.com