Prominent billionaires selling Chipotle, buying Broadcom, concerns about NVIDIA competition.

From Nasdaq.

August 19, 2024 05:06:00 am:

In 2024, the stock-split frenzy has grabbed the attention of investors over artificial intelligence on Wall Street. Stock splits allow companies to alter share price and count. Forward-stock splits, which make shares more affordable, are favored by investors. High-flying companies like Chipotle and Broadcom have announced or completed forward-stock splits, with billionaire investors either selling or buying these stock-split stocks. NVIDIA, an AI hardware leader, saw significant selling activity by asset managers who may be concerned about competitive pressures and historical market trends. Another high-flying stock-split stock, Chipotle Mexican Grill, experienced selling from prominent billionaire investors despite impressive sales growth. Broadcom, a Class of 2024 stock-split stock specializing in AI networking solutions, was heavily bought by a handful of billionaire investors due to its diverse revenue stream and ability to navigate a potential AI bubble-bursting event.

Read more at Nasdaq, Inc.: 2 High-Flying Stock-Split Stocks Prominent Billionaires Are Selling, and the 1 They’re Buying Hand Over Fist