Netflix Approves 10-for-1 Stock Split

The board of Netflix has approved a 10-for-one stock split to help bring its lofty stock price down to a level more accessible to employees. The streaming company on Thursday said that the split is intended to reset the market price of Netflix shares, which closed Thursday at $1,089, to a range that will be easier to access for employees who participate in its stock option program. Each shareholder of record as of the close on Nov. 10 will receive, after the close of trading on Nov. 13, nine additional shares for every share held on the record date.

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