Stock-Split Watch: Is Palantir Technologies Next?
Palantir Technologies' (NASDAQ: PLTR) rally is showing no signs of slowing down despite the company's sky-high valuation. As of this writing, the stock has jumped an impressive 87% year to date and sixfold in the past year. Its three-year gain stands at a remarkable 1,740%. Each share of Palantir is now trading at just over $140 per share, a huge increase over its first-day closing price of $9.50 per share from five years ago.
This significant gain for Palantir stock may have management considering an eventual stock split, a route that has been taken by several tech giants in recent years.
A stock split does nothing to alter the prospects or fundamentals of a company. However, companies that choose to split their stock often believe a lower share price could lead to increased demand for their stocks due to greater accessibility.
Source Fool.com
