How Shopify's CEO Becomes More Powerful Through Its Stock Split
On April 11, Shopify (NYSE: SHOP) announced it was splitting its stock 10-for-1 effective June 28. While stock splits are primarily cosmetic in the days of fractional share brokerages, it helps with options strategies and benefits those without access to fractional shares.
In the past, stock splits have sent stocks soaring -- take Tesla rising more than 80% in the days after it announced a stock split in 2020. Yet, for Shopify, in the week after its stock split announcement the stock was down around 6%. So what's different about Shopify's situation?
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