Stock Splits and Reverse Splits, Explained

Work through these terms in order to understand how stock splits work.

What Is a Stock Split?

A stock split divides one share into multiple shares, increasing the total number of shares outstanding while lowering the price per share proportionally. In a 5-for-1 split, for example, share count multiplies by five and the price per share drops to one-fifth β€” but the company's total assets and market capitalization stay exactly the same before and after.

What Is a Reverse Split?

A reverse split is the opposite: multiple shares are combined into one, reducing the number of shares while raising the price per share. In a 1-for-5 reverse split, share count drops to one-fifth and the price per share rises fivefold, again without changing the company's overall value.

Why Do Companies Do a Stock Split?

Companies often split their stock to lower the per-share price, making it easier for more everyday investors to afford buying in and boosting trading liquidity as a result.

Why Do Companies Do a Reverse Split?

Companies typically use a reverse split to meet a stock exchange's minimum price requirement for staying listed, or to improve the stock's public image after the price has fallen too low.

The Company's Real Value Does Not Change

A split or reverse split changes the share count and per-share price, but total market capitalization and your ownership percentage stay exactly the same.

Watch Out for the Price Illusion After a Split

A lower per-share price after a split can feel like the stock got "cheaper," but since the share count increased proportionally, the company's actual value and investment appeal have not changed at all.

Why Stock Prices Often Rise After a Split Is Announced

A stock split does not change a company's underlying value on its own, but it is often read as a positive signal β€” more active trading, easier access for smaller investors β€” which can move the stock price in the short term. That said, this is largely a psychological effect, and share price over the long run ultimately follows the company's actual performance.

For Reference Only

This page is educational content covering the general concepts of stock splits and reverse splits. It is not advice about any specific stock, and any investment decision should be made carefully, based on your own judgment and at your own risk.

Frequently Asked Questions

If a stock splits, does the total value of my shares go up?

No β€” while your share count increases, the price per share decreases proportionally, so the total value of your holdings stays the same before and after the split.

Is a reverse split always a bad sign?

Not necessarily. It is sometimes read negatively, as an attempt to avoid falling below a listing requirement after the price dropped too low, but companies also use reverse splits to improve their image or attract institutional investors, so it is worth looking at the underlying reason rather than assuming the worst.