Should You Buy This Stock Split With 64% Upside According to Wall Street?
Stock splits are all the rage in today's market. They typically occur when a stock price reaches a level where many investors can no longer afford to purchase a whole share without overweighting a portfolio. While they have become less necessary now that fractional shares exist, many notable companies are splitting their stocks in the upcoming months.
Shopify (NYSE: SHOP) is one of those companies, but unlike Amazon and Alphabet (two other names that have or are planning to split their stock), it doesn't trade for more than $2,000. Instead, it's hovering around $375, meaning its planned 10-for-1 split will drop the stock to a mere $37.50 per share. Shareholders approved the stock split during its annual meeting. So with the stock split approved, does this make Shopify a buy?
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Source Fool.com
