10-for-6 stock split implies that for every 6 stocks outstanding, post split, you will have 10 stocks outstanding.
But the overall market value of firm does not change due to this event. This mean,
Price pre split * Number of shares pre-split = Price post-split * Number of shares post-split
$64 * 6 = Price post-split * 10
Price post-split = $38
Intro A company's stock price is $64. The company now does a 10-for-6 stock split. |...
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