Frustrated with credit card processing fees, the owner of the independent station, Michael Gharib, reintroduced the split pricing a year ago.
Why Microsoft decided on this policy is unclear to me, but if developers end up using this split pricing scheme, it will surely lead to confusion and frustration.
Today Citibank trades at around $50 per share, or $5 expressed in pre-reverse split pricing.
Over the last 11 months, Sun shares have tumbled to pre-split prices.
That was hard to square with the head-splitting prices homebuyers were paying in the big cities.
Even now, Amazon is worth more than all America's bookstores, including Barnes & Noble and Borders, put together.Just before Christmas, Henry Blodget, an analyst at CIBC Oppenheimer not noted for his irrational exuberance, declared a pre-split price target for Amazon of $400 by the end of 1999.
Contrary to the popular perception, nearly three-quarters have maintained a post-split price above $1.
But analyst Peter Swann, who follows Webvan for Pacific Crest Securities, says the firm may not be able to maintain its post-split price.
Since 2005, when the company's stock split, share prices have risen from about $45 to more than $427.
Today, it closed at a (split adjusted) price of $67.40, meaning it is almost back to its first-day close.
