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The common stock of ABC Corporation was trading at $50 per share on October 15, 2018. A year later, on October 15, 2019, it was

The common stock of ABC Corporation was trading at $50 per share on October 15, 2018. A year later, on October 15, 2019, it was trading at $80 per share. On this date, ABC's board of directors decided to split the company's common stock.

Why do you think ABC's board of directors decided to split the company's stock?

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