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Netflix Stock Split Announcement
Netflix (NASDAQ: NFLX) has announced a 10-for-1 stock split, set to take effect on November 17. As of November 10, shareholders will receive nine additional shares for each share they own. Currently, Netflix’s stock price is just under $1,093, reflecting a 270% increase in 2023.
After the split, Netflix shares will start trading at approximately $109.30. The company’s market capitalization is projected to remain around $500 billion, with a forward price-to-earnings ratio of approximately 37, significantly higher than the S&P 500 average of 23. Netflix expects its sales to rise by 16%, exceeding $45 billion this year.
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