Chipotle Announces 50-for-1 Stock Split After Soaring Share Price, Eyes Making Stock More Accessible
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Nearly a dozen high-profile companies like Amazon, Tesla, and Walmart have enacted forward stock splits since mid-2021 as their shares soared. Stock splits make shares more affordable without changing market cap.
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On March 19, Chipotle Mexican Grill announced a 50-for-1 stock split, one of the largest ever on the NYSE. Chipotle cites making shares accessible to more investors and employees as a reason.
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Chipotle's continued outperformance is fueled by its focus on food quality, small menu, and innovation like drive-thru "Chipotlanes".
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Semiconductor company Broadcom is a likely candidate for a stock split next given its ties to the hot AI trend and wireless chips powering 5G phones.
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Broadcom's share price has soared over 1,800% in the past decade to over $1,200 now. A split could make the stock more affordable for average investors.