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This Artificial Intelligence (AI) Stock Has Surged 1,000% Over the Past 2 Years. Is a Split on the Horizon?
This company's artificial intelligence (AI) software technology has helped the stock become the talk of the market.
Memories can become short when markets get turbulent. Palantir Technologies (NASDAQ: PLTR) was at an all-time high less than a month ago, but has quickly tumbled approximately 30% since its peak as the broader Nasdaq Composite has entered a correction. But if you zoom out, the stock is up about 1,000% over the past two years, even with the recent decline.
That's seriously impressive. The S&P 500 (SNPINDEX: ^GSPC) historically returns an average of roughly 10% annually -- some years much more; some years much less, even a loss. Wall Street's excitement for artificial intelligence (AI) and Palantir's accelerating growth, emerging leadership in AI software, and long-term potential have fueled the stock's ascension.
When stock prices rocket higher like this, you sometimes get stock splits, which increase the number of shares while decreasing the price proportionally. Individual investors generally love stock splits because they lower the share price, making it easier to buy shares for those without access to fractional shares. Remember, stock splits do this by increasing the share count, so the stock isn't fundamentally cheaper. The share price is lower because each share represents less equity in the company.
