Streaming giant Netflix announces a 1-for-10 stock split plan.

Streaming giant Netflix announced a 1-for-10 stock split, aiming to adjust the common stock price to a range that is more affordable for retail investors and employees. According to the plan, shareholders holding stock as of the close on November 10th will receive 9 additional shares for every 1 share they hold on November 14th, and the stock will begin trading at the adjusted price starting on November 17th. Netflix is one of the 10 stocks in the S&P 500 index with a price exceeding $1,000, closing at $1,089 on Thursday. After the announcement, the stock price rose over 3% in after-hours trading.