Stock splits are all the rage these days. Tech juggernaut Apple and electric vehicle leader Tesla grabbed headlines in recent weeks by splitting their high-priced stocks to make them more affordable for the average investor, among other reasons. Following the moves, those companies' valuations flew even higher -- until last week's broad market sell-off -- even though splits don't affect a business's underlying value one bit.
That's because stock splits usually don't do anything other than cut the same pie into more slices. However, there are occasional instances where such a maneuver can create something of value. Such was the case with the recent splits of Brookfield Infrastructure Partners (NYSE: BIP) and Brookfield Renewable Partners (NYSE: BEP), which created two new corporations. Investors won't want to overlook the results.
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