Why the Heck Is Shopify Splitting Its Stock?

Shopify (NYSE: SHOP) became the latest tech stock to announce its stock is splitting, stating it would split its shares 10-for-1. This means for every share an investor owns, they will receive 10 shares, causing the shares to drop by a similar ratio in price.

Although it follows stock split announcements in recent weeks by Alphabet, Amazon, and Tesla, it's still a curious decision by Shopify, considering its shares have lost nearly two-thirds of their value over the last five months.

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Source Fool.com