Stocks do tend to go up after stock splits, which does benefit the shareholder. That being said the reasons behind the uptick are based on nothing real IMO. The reason stocks usually goes up after a split IMO is because:
1) Novice investors think the stock is "cheaper now" 2) Novice investors think that more shares means more value 3) Most money managers believe that companies only split shares when there is no negative news in the forseeable future.
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