Netflix broadcasts a 7-for-1 inventory cut up
We have come a great distance from Qwikster. Netflix’s inventory worth has greater than doubled since final December, and with costs of shares nearing $seven hundred at this time it introduced plans (PDF) for a 7-for-1 inventory cut up. The worth closed immediately at $681, and the Board of Administrators permitted a plan to distribute six further shares for every one held as of the shut of enterprise on July 2nd. When it comes to how typically we see one thing like that, this comes a few yr after Apple introduced its personal 7-for-1 cut up. On a melancholy notice, the cut up will come virtually 5 years to the day after Blockbuster’s try at a reverse inventory cut up to keep away from delisting fell via. Ouch.