Big Stock Splits Catching on With Small Companies, WSJ Says
Sarasota, Florida, Oct. 2 (Bloomberg) -- Many small companies are splitting their stock by as much as 100-for-1, a trend fueled in part by Internet stock-message boards where penny stocks are a popular topic, the Wall Street Journal reported in its ``Heard on the Street'' column.
Nearly two dozen small companies have announced such splits in recent months, the paper said. The splits seem to have helped some small stocks.
BioFiltration Systems Inc., a Sarasota, Florida-based marketer of waste-treatment and wireless Internet technologies, split its stock 100-for-1 in April, taking its shares to 12 cents from $12 each. Since then, trading volume has leaped and the stock's value in the over-the-counter market reached $2 a share, equivalent to $200 on a pre-split basis, the paper said.
