Netflix's Stock Rallies After 7-for-1 Stock Split Announced

By Tomi KilgoreMarketWatch Pulse

Netflix Inc.'s stock climbed 1.9% in after-hours trade Tuesday, after the the streaming video service announced a seven-for-one split of its common stock. The split will be effected in the form of a stock dividend, which will be distributed on July 14 to shareholders of record at the close of business on July 2. The stock will begin trading on a post-split basis on July 15. Netflix's stock closed Tuesday at $681.19, making it the third-highest priced stock among S&P 500 components, according to FactSet. It has nearly doubled -- up 99% -- year to date, while the S&P 500 has gained 3.2%.

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