Do stock splits even matter in 2020?

This coming Monday, Apple and Tesla stock are set to split, 4-to-1 and 5-to-1, respectively.

Splits ostensibly take place so as to lure in "smaller" investors who don't have lots of cash to shell out for high-priced stocks. For instance, Tesla is trading at around $2,200 per share, putting it in the top 10 most expensive stocks out there.

(At the rate it was going, it seemed like a share might soon outpace the MSRP of the car!)

The premise is kinda like deciding whether to buy a whole pizza or not. If the $18 asking price is more than you can stomach, you might take your business elsewhere. But if the pizza place decides they're gonna cut it up and sell slices for $3 each...G-G-G-G-G-UNIT!

But we're almost a full year into the era of fractional-share buying being readily available. Investing platforms new (Robinhood, M1) and old (Fidelity, Charles Schwab) have offered it up as a way to reel in younger investors with less capital and experience.

So if I can plonk down a couple hundred bucks a month towards shares of Tesla, what difference does it make if a share costs $2,000 or $20? However much I have available to invest in it is however much I'll buy. And as long as the dollar amount of what I own keeps appreciating in value at a significant rate, I couldn't care less how many shares that comes out to. The percentage it appreciates (or depreciates) is the same whether I own 1/10th of a $2,000 stock or 1 entire $200 stock.

Am I missing something? If so, drop me a line at vikram@ghostmile.com. Or take it up with the Vikbot in the lower-right corner. He's feisty!