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(Bloomberg) Stock splits are back in vogue among big U.S. companies, reviving a debate about whether the practice that had fallen out of favor for years is worth the fuss.
Last week, Nvidia Corp. became the eighth company in the S&P 500 Index to announce a split in the past year, joining big names like Apple Inc. and Tesla Inc. That’s the most over a comparable period in six years, according to data compiled by Bloomberg.
The surge in splits comes amid a rally that’s pushed share prices of almost 600 stocks in the Russell 3000 Index above $100. Yet that has done little to settle the age-old-argument among investors about whether such stock-price engineering has any bearing on performance. In fact, recent developments such as soaring retail trading and fractional share ownership have only heated things up.
JMP Group Appoints Investment Expert Alfredo Barreto To Oversee Its Investment Banking Division
JMP Group LLC (NYSE:JMP) said Tuesday that Alfredo Barreto, Jr. has joined the company to serve as a managing director in its investment banking group.
Barreto agreed to advise corporate clients within the cannabis industry.
He is an experienced investment banker with knowledge in consumer and specialty retail.
“His transactional background and industry relationships will make him a key advisor to entrepreneurs and executives seeking differentiated strategic advice and top-tier execution capabilities as they build, finance, and monetize cannabis and cannabis-adjacent businesses in a rapidly changing marketplace,” Mark Lehmann, JMP Group’s president, said.