Been eyeing Shopify but haven't been busy with looking at stocks for a month or so. Decided to check it today and saw Spotify was down to $38/share, I'm thinking wtf I thought $300 was an overreaction, I'm about to back the dump truck on Shopify, then I Google and see they did a 10:1 split so it's basically $380 a share as it was before.
So my question, is there motivation to doing a stock split besides the fact it's a more attractive number/less scary number for your average investor than when this was blown up over $1500 a share not too long ago during COVID? Is there any other reasoning behind this than that?
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