NEW YORK (AP) — High prices help sell watches, sports cars and handbags by suggesting rare quality. Now, they may be helping sell stocks, too.
The number of stocks priced at $100 or more is at a multi-decade high. Companies worried that sticker shock would keep small investors from buying used to split their shares in two or more to lower the price. But now splits are scarce, and a triple-digit stock has cachet.
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