Netflix announced a 10-for-1 stock split, giving shareholders 10 shares for every one owned. Shares will trade at one-tenth of their current price, closing at $1,089. The move aims to make stock more accessible to employees. Stock closed up 3% post-announcement and may bid for Warner Bros. Discovery.

Stock will trade on split-adjusted basis Nov. 17, estimated around $110 per share. Per-share price is determined by market value divided by shares outstanding. Research suggests stocks outperform post-split announcements, indicating meaningful information. This is Netflix’s third stock split, with over 100,000% gain since IPO in 2002.

Read more at Yahoo Finance: Netflix announces 10-for-1 stock split as company aims to make stock more accessible for employees