There's a lot of debate but at the end of the day you have to do what's best for you. If you're dollar cost averaging into a position every single month, it shouldn't matter. If you're a new investor, there's a risk the stock could go even HIGHER before the split, making the split adjusted price higher than you were expecting.
For example, if the stock is doing a 10:1 split and it's $1000 per share, the split adjusted price would be $100 per share. Assuming it stays at $1,000 leading into the split. So you say you'll buy it at $100 per share and you set aside $10,000 for 100 shares (just hypothetically, I know most investors don't have that much). But ... the stock goes to $1,300 before the split happens! The split adjusted price is now $13,000! If you want the same 100 shares, it'll cost you $13,000 now! Or you'll just end up with fewer shares ...
On the other hand, it might not go up dramatically, and we know after splits happen, for a few days, it is likely that the stock might drop it price. So ... maybe it splits at $100 and drops to $87. Or maybe it goes to $1300 and then after the split it drops to $110. The bottom line is ... there's no way to know. Do what's best for you!
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