Broadcom Stock Starts Trading Today After 1-for-10 Split

Broadcom (NASDAQ:AVGO) began trading at a lower price after its stock split after markets closed on Friday. Investors who held 10 shares on July 12 now hold 100.A split, by itself, has no financial impact. However, it shows management’s confidence in a company’s future and encourages buying by small investors.Today will also be the first day of trading since Broadcom announced its second-quarter results. A net income of $2.1 billion, $4.42 per share, on revenue of nearly $12.5 billion, is a tradeable event. ...