This Railroad Wants to Split Its Stock After a Massive Rally
Stock splits ruled headlines in 2020, with Apple and Tesla setting the tone. A rally in share price is the biggest catalyst for companies to split stocks, and that's exactly why the board of Canadian Pacific Railway (NYSE: CP) just proposed a 5-for-1 stock split. Highlighting the run-up in Canadian Pacific's stock price in the past five years, CEO Keith Creel said, "We believe that the share split will encourage greater liquidity for CP's common shares and provide opportunities for ownership by a wider group of investors than is currently available."