Since 2024 began, hype surrounding the artificial intelligence (AI) revolution has played a major role in lifting Wall Street's three major stock indexes to multiple record-closing highs. But AI isn't the only trend pushing the broader market higher. The euphoria surrounding stock splits has played an equally important role.

A stock split allows publicly traded companies to adjust their share price and outstanding share count by the same factor, without altering their market cap or underlying operating performance. It's a purely cosmetic maneuver that can have important consequences.

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Source Fool.com