Theoretically, a 2:1 share split should cut the market price of a company's shares in half. On June 9, 2011, lululemon athletica inc. announced a 2:1 share split with shares traded on a post-split basis on the Toronto Stock Exchange, effective July 6, 2011.
Go to the website of the Toronto Stock Exchange at tmx.com. Search for lululemon athletica inc. using its trading symbol, LLL. Review the 30-day price history for the period prior to July 31, 2011. What was the effect of the share split on the market price of lululemon athletica inc. shares?