Recently I met someone at a conference that was actively investing in stocks and believed the following to be true (which literally frightened me so much I couldn't stop thinking about it):
1. A stock splitting, basically means that you need to buy in quick because it is going up, and fast.
2. The price of a stock is indicative of it's worth. (for example: JNJ is $64 so why the heck would I buy that over PFE which is $27, JNJ is far too expensive)
3. Since a stock has gone up significantly in the recent past, then that, and that alone indicates that the stock will rise much further, and thus it is a great time to buy now.