Netflix (NFLX) Gains Ahead of Stock Split Announcement

Netflix (NASDAQ: NFLX) is surging to new highs today in anticipation of a stock split approval at tonight's annual meeting.

On the agenda tonight is a proposal to: amend our Certificate of Incorporation to increase the number of shares of capital stock we have authorized to issue from 170,000,000 (160,000,000 shares of common stock and 10,000,000 shares of preferred stock), par value $0.001, to 5,000,000,000 (4,990,000,000 shares of common stock and 10,000,000 shares of preferred stock), par value $0.001;

As noted in the April proxy, if the proposal is approved by stockholders, "management expects that it will recommend to the Board a stock split in the form of a dividend at a ratio to be determined following the conclusion of the Annual Meeting of Stockholders. No stock dividend, however, can be issued unless and until it is approved by the Board and sufficient shares have been authorized."

The annual meeting starts tonight at 6PM ET (3PM PT).

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