Shopify Announces a 10-for-1 Stock Split With an Unusual Provision
There's no question that Shopify (NYSE: SHOP) has democratized the world of digital retail. By providing everything entrepreneurs need to sell their goods online, the company has staked out a large and profitable niche for itself and enriched investors in the process.
Shopify's stellar business performance opened the door to a surging stock price. Shares gained roughly 200% over the past three years and nearly 800% over the preceding five years. Furthermore, since Shopify's IPO in May 2015, the stock has soared by 2,280% (as of this writing). It's worth noting that the stock has achieved those gains even in light of a recent sell-off, with shares dragged down in conjunction with the recent correction and tech-centric bear market.
To kick off the week, Shopify announced the first stock split in the company's history -- which contains an unorthodox provision to help maintain CEO Tobi Lütke's control over the company he founded.
Source Fool.com
