Yes and no. As mentioned in an earlier post, stock splits bring the price down to a level that could be attractive for the small investor. For example, when my son heard the news on Apple, he bought, knowing that his investment would quadruple in number of shares in a month. Yes, it can also go down, 4 times as fast, but it in my opinion it is typically the solid companies that achieve the stock momentum and gets further fueled by the ability of small investors buying in....ie further demand. I know that there is a contrary thought out there, but from what I have observed, holding both Nike and Apple, I feel that I have benefited.