Should You Buy Shopify Now or Wait Until After Its Stock Split?

Back in April, Shopify (NYSE: SHOP) announced its plans for a 10-for-1 stock split that will also boost CEO Tobi Lütke's voting stake to 40% by issuing a new class of "founder's shares." Shareholders approved the proposal on June 8, and the stock will split on June 28.

The maneuver might generate some fresh investor interest in Shopify's stock, which has lost more than three-quarters of its value this year amid concerns about its high valuation and slowing growth in a post-lockdown market. Inflation, rising interest rates, and other macroeconomic headwinds exacerbated that pain by driving investors further away from pandemic-era growth plays.

Should investors buy Shopify right now as the market looks the other way? Or should they wait for the stock split to be completed before reassessing its prospects?

Source Fool.com