The 3 Best-Performing Stock-Split Stocks of 2024 So Far -- and Nvidia Doesn't Top the List

Everyone knows that slicing a pizza into six or eight pieces doesn't provide more food than slicing it into four pieces. Such slicing is basically what stock splits do.

However, stock splits can sometimes attract new investors who otherwise wouldn't have bought the stock. And this can drive the share price higher. We've perhaps seen this phenomenon in effect this year with several high-profile stock splits. Here are the three best-performing stock-split stocks of 2024 so far.

1. AGBA Group Holding Ltd.

Hong Kong-based online financial services and healthcare platform operator AGBA Group Holding Ltd. (NASDAQ: AGBA) might win the award for the most unusual stock split of the year. On Oct. 2, 2024, the company conducted a 122-for-63 stock split earlier this month with shares beginning trading on a split-adjusted basis on Oct. 2. AGBA shareholders also voted on Sept. 19, 2024, to authorize the company's board of directors to conduct a reverse stock split in the range of 1-for-1.5 to 1-for-20.

It's debatable whether or not AGBA's stock-split strategy has provided a major catalyst for the stock. However, AGBA's share price has skyrocketed more than 340% for another reason: the company's pending merger with privately held Triller.

Triller operates a technology platform powered by artificial intelligence (AI) that enables online content creation. Large customers including Meta Platforms, PepsiCo, and The Walt Disney Company use Triller's platform to improve online engagement with users.

AGBA's merger with Triller isn't a done deal yet, though. The two companies must first win approval from regulators. Assuming there are no roadblocks, AGBA plans to change its name to Triller Group.

2. MicroStrategy

Bitcoin development company MicroStrategy (NASDAQ: MSTR) conducted a 10-for-1 stock split of its class A and class B common shares on Aug. 7, 2024. MicroStrategy's shares jumped after the announcement of the planned stock split on July 11 and after the stock began trading on a split-adjusted basis on Aug. 8.

However, most of MicroStrategy's 190%-plus year-to-date gain came before the stock split was announced. The stock took off in February in lockstep with a surge in the price of Bitcoin. Since MicroStrategy revealed in its 2023 fourth-quarter update on Feb. 6, 2024, that it owned 190,000 Bitcoins, this big move was understandable.

Although MicroStrategy's share price has soared, its underlying business hasn't performed as well. In the second quarter of 2024, the company's revenue fell 7.4% year over year to $111.4 million. MicroStrategy also posted a hefty net loss of $102.6 million compared to a profit of $22.2 million in the prior-year period.

3. Nvidia

Nvidia (NASDAQ: NVDA) arguably claims the most anticipated stock split of the year. The GPU maker has been one of the hottest stocks on the market and conducted a 10-for-1 stock split effective June 7.

Despite investors' excitement about Nvidia's stock split, Nvidia ranks only in third place among the best-performing stock-split stocks of 2024. Its shares have vaulted more than 170% higher so far this year.

Virtually all of Nvidia's impressive year-to-date gains came in the first half of 2024. The stock has swung up and down during the second half of the year, partly as a result of concerns about the delayed shipment of Nvidia's new chips based on its Blackwell GPU architecture.

Best pick going forward

Which of these top stock-split stocks of 2024 so far is likely to be the biggest winner over the next 12 months and beyond? My vote goes to Nvidia.

The new Blackwell chips should fuel continued growth for the company. Nvidia CEO Jensen Huang recently told CNBC that the demand for the chip is "insane." I'm not surprised. Even better, the company is now on a pace to introduce new technology on a yearly basis. This high-flying stock still has room to run, in my opinion.

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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Keith Speights has positions in Meta Platforms, PepsiCo, and Walt Disney. The Motley Fool has positions in and recommends Meta Platforms, Nvidia, and Walt Disney. The Motley Fool has a disclosure policy.