Answer: Rumor has it that the stem will not grow any taller. That's true; the original stem will not grow, but as the leaves grow from the side of the top, it will eventually produce a hard stem when the old leaves fall off. This will take several years, though. This is how the stem is produced in the first place. Leaves grow and then die off. Where the leaves once were, a node (or knuckle or band) will be there. It was there all the time, hidden by the leaves. So, instead of the original stem growing taller, you'll have a side stem and it will eventually grow outwards and then upwards, and after several years it will be taller than the original stem. Lucky bamboo is one of the slower growing dracaenas. Others grow faster, but it depends on the growing conditions and the variety.
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