Company Stock

: The previous limit had been 170 million shares, according to CBC. Although the vote taken late Tuesday at Netflix annual meeting was considered a formality, investors still celebrated the outcome because it empowers the board to split the company stock. Shareholders set the stage for Netflix to split its stock by approving a proposal that will allow the board to increase the company outstanding stock to as many as five billion shares. Splits are a commonly used maneuver to lower a stock trading price. Investors generally like this tactic because a reduced trading price tends to widen the pool of people interested in buying a stock. This is done by increasing the number of outstanding shares. (news.financializer.com). As reported in the news.