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On October 30, 2023, Netflix (NASDAQ: NFLX) announced a 10-for-1 stock split, the first in a decade, with additional shares distributed to shareholders on November 14, 2023. Trading of split-adjusted shares will commence on November 17, 2023. This split reduces the share price from over $1,100 to approximately $100, aimed at making shares more accessible to employees and individual investors.
Netflix’s market cap currently sits below $500 billion, with a management goal to reach $1 trillion by 2030 despite recent charges impacting its valuation. The split is viewed as a strategic move to improve the company’s chances of being added to the Dow Jones Industrial Average, which typically includes stocks with lower price points.
As of now, Netflix’s resilience amid economic fluctuations has positioned it as a potential buy for November, despite challenges faced in the broader market.
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