For instance, some shares prices (e.g. Adyen) still trade at extremely high prices despite being target shares for retail audiences – which should make a lower price more attractive for them, and thus, a split.
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At least in the US, many brokerages allow trading of fractional shares for larger companies, which helps alleviate that issue.
Some companies prefer the stability of a price that keeps amateur/small investors away to reduce volatility. Makes no difference to a mutual fund trading millions of dollars whether shares are $30 or $3,000, but that’ll certainly change how the small time investor looks at a stock.
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