Lululemon Athletica (NASDAQ: LULU) was up over 8% today on high volume. The stock hit a fresh 52-week high mid-day at $86 per share, and closed at $85.27. The fast-growing women's apparel company that specializes in yoga wear announced that it would split 2 to 1.
Although nothing fundamentally changes within a company when its stock splits, investors tend to bid up the stock on this good news. It allows the stocks trading to be more liquid as new investors who can afford the lower-priced shares can now purchase the company.
LULU was up to $86.36 in after-hours trading.
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