Stock splits are all the rage these days. Tech juggernaut Apple and electric vehicle leader Tesla grabbed headlines in recent weeks by splitting their high-priced stocks to make them more affordable for the average investor, among other reasons. Following the moves, those companies’ valuations flew even higher — until last week’s broad market sell-off — even though splits don’t affect a business’s underlying value one bit.
That’s because stock splits usually don’t do anything other than cut the same pie into more slices. However, there are occasional instances where such a maneuver can create something of value. Such was