AVGO - Should You Buy Broadcom Stock Hand Over Fist Before Its 10-for-1 Stock Split?
2024-07-01 05:49:00 ET
Broadcom 's (NASDAQ: AVGO) share price nearly doubled last year. The stock is up over 45% so far in 2024. That's great news for shareholders. However, for some investors, this tremendous success pushed Broadcom's share price so high (over $1,600) that they were reluctant to buy.
That won't be a problem for too much longer. In its first-quarter update a few weeks ago, Broadcom announced plans for a 10-for-1 stock split after the market close on July 12, 2024. The semiconductor and software maker's shares will trade on a split-adjusted basis beginning July 15, 2024.
Broadcom CFO Kirsten Spears said the purpose of this stock split for "to make ownership of Broadcom stock more accessible to investors and employees." Some believe this greater accessibility could provide a nice catalyst for the already high-flying stock. Should you buy Broadcom stock hand over fist before its 10-for-1 stock split?
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Should You Buy Broadcom Stock Hand Over Fist Before Its 10-for-1 Stock Split?