"[S]ignals the power of compounding" -- only to unsophisticated (frequently, retail) investors. Institutional investors always have historical data that is split-, and even dividend-, adjusted. If I had to guess, refusing to split is like a form of virtue signalling, nothing more. When I was a kid, IBM usually had a high stock price, over 100 USD. I never understood why; nor did my father, a stock broker.
