(NYSE: WMT) is headed for Splitsville. No, the giant discount retailer isn't about to break up into separate companies. It isn't planning to sell off any of its units, either.

Instead, I'm referring to Walmart's announcement roughly two weeks ago that it plans to conduct a 3-for-1 stock split on Feb. 26, 2024. CEO Doug McMillon explained that the company is splitting its stock because its founder, Sam Walton, felt that Walmart's share price should be affordable for its associates. McMillion said, "Given our growth and our plans for the future, we felt it was a good time to split the stock and encourage our associates to participate in the years to come."

Will Walmart stock jump after its upcoming stock split? Here's what history shows.

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Source Fool.com