$Netflix(NFLX)$ After weeks of rumors that it would do so, Netflix's board has approved a seven-for-one stock split. The move could generate renewed interest in the SVOD provider's stock price, driving up the newly split shares' value more quickly.
In the short term, the stock split will give smaller investors a chance to buy into Netflix's red-hot shares, and won't necessarily change the company's valuation at all.
Investors will receive a stock dividend of six additional shares of Netflix common stock for each outstanding share of common stock, payable on July 14 to shareholders who are on record on July 2.
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