Netflix announces a 7-for-1 stock split
We’ve come a long way from Qwikster. Netflix’s stock price has more than doubled since last December, and with prices of shares nearing $700 today it announced plans (PDF) for a 7-for-1 stock split. The price closed today at $681, and the Board of Directors approved a plan to distribute six additional shares for each one held as of the close of business on July 2nd. In terms of how often we see something like that, this comes about a year after Apple announced its own 7-for-1 split. On a melancholy note, the split will come almost five years to the day after Blockbuster’s attempt at a reverse stock split to avoid delisting fell through. Ouch.
Filed under: Home Entertainment, HD
Source: Netflix Investor Relations (PDF)
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