U.S. stocks pulled back from their all-time high on Friday as they closed out a second straight winning week. The S&P 500 slipped 0.3% a day after setting a record. The Dow Jones Industrial Average dipped 140 points,

Shares of Meta Platforms ( META 1.74%) and Salesforce ( CRM -0.23%) soared 350% and 115%, respectively, over the last two years. That price appreciation makes both companies stock-split candidates in 2025. More importantly, Wall Street is generally bullish on Meta Platforms and Salesforce, and certain analysts anticipate material upside.

Here’s a surprising new fact about the world’s largest and most-liquid public equity market: Most of the activity on it isn’t public anymore.