Broadcom is launching a split to lower the price of its high-flying shares. The stock has soared more than 500% over the past few years and now trades at about $1,700.
Nvidia completed a stock split in June, and Broadcom has a stock split slated for July, leaving MercadoLibre as the Nasdaq-100 stock most likely to split next. MercadoLibre operates the largest commerce and payments ecosystem in Latin America and is expected to be the world's fastest-growing advertising company in 2024.
Stock splits make shares more affordable to a broader group of investors.
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Broadcom recently announced a 10-for-1 stock split that will make its shares more available for retail investors. The company has a lower valuation than Nvidia and more diversification.
24/7 Insights Wall Street expectations for where Broadcom Inc.
Broadcom Inc. AVGO climbed over 10% since its announcement of a 10-for-1 stock split on June 12.
In less than two weeks, Broadcom (NASDAQ: AVGO ) will split its stock by a 10-to-1 ratio. Shares that currently trade for more than $1,600 each will each be worth about $160 a stub.
Broadcom's (AVGO) strong portfolio and expanding AI offerings make its top-line growth prospects bright.
The tech giant's shares have climbed by almost 90% over the past year. Its 10-for-1 stock split will take place following the close of trading on July 12.