NEW YORK (CNN/Money) - During the Internet boom three years ago, it wasn't rare to see stocks run up over $100 a share, split 2-for-1, and follow the same pattern again, and again. Not anymore.

When investors hear the words "stock split" now, it's more likely they think "reverse split" -- that the holders aren't getting double the number of shares at a lower price, but fewer shares at a higher price.

Few stocks have weathered the economic storm of late well enough to hold on to their $100 price tags, and even fewer have risen to meet that mark. Only 19 stocks traded in the United States held that distinction as of Nov. 6, and for a few, membership in the exclusive club may be running out.

During the tech boom, several companies had share prices above $100. Online retailer Amazon.com conducted a 3-for-1 stock split in January 1999 at a share price of $124.50. The following trading day, the stock jumped to $354.94. Amazon shares cost barely $20 today.

A worse fate befell venture capital firm CMGI. The company, which trades for pennies these days, also conducted a 2-for-1 stock split in January 2000 at a price of $123 a share. Two days after the split, shares soared to a height of $306.50.

With the Dow down more than 3,000 points since its height in January 2000 and the Nasdaq almost 3,700 points lower than its March 2000 peak, only a few companies continue to survive at these high prices.

Baltimore-based defense contractor Northrop Grumman, whose shares currently trade around $100, is one of those few. Analysts say the price tag fits the worth of the company -- and that its executives would only propose a traditional stock split if it would add value.

Shares of the contractor trade at a multiple that's below the market and the company has double-digit earnings and growth. But the price has slipped a bit since Northrop reported third-quarter earnings in mid-October that fell below estimates.

"It seems to me that it might be appropriate to [split the stock], but it's been an internal decision not to do so," said Paul Nisbet, an analyst covering Northrop Grumman for JAS Research. "I think it's getting a fair value. Splitting it would increase the overall market cap of the company little if at all."

Nisbet said the stock could jump up even more in the near term, as the details of its acquisition of competitor TRW (TRW: Research, Estimates) become clearer. The deal is scheduled to close before the end of the year.

Many analysts following companies with share prices at or above $100 agree that a stock split would have little or no effect on the company's market value or trading volume. But, small investors often tie stock splits to successful companies, which could have a psychological effect and incite buying.

Also, companies might see a shift in the type of investor buying shares, as more individuals become able to afford the stock.

John Roberts, an analyst with Buckingham Research Group, predicted St. Paul, Minn.-based 3M, also trading above $100 a share, would split its stock 3-for-1 within the next year.

"Individual investors tend to trade in 100-share increments. It will be more affordable for individual investors," Roberts said. "It's not as significant for 3M as it would be for a smaller-cap stocks because it's a very large liquid name."

Shares of 3M have risen over the past two years and the company has one of the highest multiples in the market.

New York-based Forest Laboratories also has flirted with the $100 mark. Along with the others in the exclusive $100-a-share category, the drug company likely will split its stock 2-for-1 or 3-for-1 in the next three to six months, according to analysts.

"The psychology of it -- $100 -- it seems like a lot. That's a nice problem to have," said Andrew Forman, an analyst covering Forest Labs for Friedman, Billings, Ramsey. "So few companies are doing very, very well."

Forest's share price has risen along with the growing demand for its Celexa drug for depression. Analysts said the drug company has gained market share from larger competitors like Merck and Schering-Plough with the help of Celexa -- and aims to continue the trend with another depression drug, Lexapro.

As these few companies debate whether to cut their stock prices in half from say $200 a share to $100, or $100 a share to $50, others have been struggling with the opposite question.

Over the past few months, several well-known companies have made moves to pare down the number of shares offered in order to boost their stock prices in a reverse stock split.

Many of these companies fall into the telecom sector, which has been hit hard by the economic downturn. AT&T (T: up $0.16 to $13.81, Research, Estimates) plans to conduct a 1-for-5 reverse stock split when it spins off its AT&T Broadband cable television unit, which could be completed as early as Friday.

Swiss telecom company Ericsson (ERICY: Research, Estimates) authorized a 1-for-10 reverse stock split for its Nasdaq-listed ADRs at the end of October, in the hopes of avoiding delisting from the index.

No. 1 handheld computer maker Palm (PALM: Research, Estimates) also won approval from its shareholders at the beginning of October for a reverse split. The company said it would help offset the decline in price per share that is normally associated with separation into two companies, as it continues the process of splitting its hardware and software units.

These companies are not alone in their battles against a difficult economic atmosphere, as others -- including once-promising telecom names Lucent (LU: down $0.02 to $1.20, Research, Estimates) and Nortel (NT: down $0.11 to $1.32, Research, Estimates) -- also have announced plans for reverse splits.

"Stock splits have become relatively scarce in this environment," Buckingham Research Group's Roberts said. "The reason a stock is splitting is because it's a company that's been doing well."