Move Over, Stock-Split Stocks: IPO Mania Is Taking Center Stage (and It's Probably Not Going to End Well)

For the better part of the previous 30 months, the bulls have ruled the roost on Wall Street. Prior to the recent correction, we witnessed the ageless Dow Jones Industrial Average, benchmark S&P 500, and growth-propelled Nasdaq Composite all achieve record-closing highs.While these gains have been primarily attributed to the rise of artificial intelligence (AI), there's no denying that stock-split euphoria played a key role in lifting the valuations of foundational companies last year. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »Image source: Getty Images.A stock split is a tool public companies have available that allows them to cosmetically alter their share price and outstanding share count by the same factor. The "cosmetic" aspect of these adjustments means a company's market cap and underlying operating performance aren't impacted by a split.Though stock splits can occur in either direction...