Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images
Netflix just pulled an old but useful trick.
The streaming giant announced a 10-for-1 stock split, giving shareholders nine additional shares for every one they own as of November 10. The new, lower-priced shares will begin trading on November 17.
Netflix is currently one of just 10 companies in the S&P 500 with a share price above $1,000, a level that often prompts firms to split their stock to make it more accessible to retail investors.
A stock split doesn’t change Netflix’s valuation or fundamentals. It simply divides existing shares into smaller pieces, leaving investors with the same total value but with more numbers of shares.
This is a developing story; please check back for more.
