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Video: What is a Stock Split?


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Provides a broad range of services to the aviation industry through three principal operating units which are all wholly owned subsidiaries of the Company: MercFuel Inc. Mercury Air Cargo Inc. and Maytag Aircraft Corporation. According to our MAX split history records, MAX has had 2 splits.
MAX split history picture
MAX (MAX) has 2 splits in our MAX split history database. The first split for MAX took place on April 14, 1997. This was a 5 for 4 split, meaning for each 4 shares of MAX owned pre-split, the shareholder now owned 5 shares. For example, a 1000 share position pre-split, became a 1250 share position following the split. MAX's second split took place on June 18, 2003. This was a 1 for 2 reverse split, meaning for each 2 shares of MAX owned pre-split, the shareholder now owned 1 share. For example, a 1250 share position pre-split, became a 625 share position following the split.

When a company such as MAX splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as MAX conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share. Looking at the MAX split history from start to finish, an original position size of 1000 shares would have turned into 625 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into MAX shares, starting with a $10,000 purchase of MAX, presented on a split-history-adjusted basis factoring in the complete MAX split history. MAX split adjusted history picture
MAX -- use the split history when considering split-adjusted past price performance.

Date Ratio
04/14/19975 for 4
06/18/20031 for 2
MAX is categorized under the Materials sector; below are some other companies in the same sector that also have a history of stock splits:

MAY Split History
MBLX Split History
MBR Split History
MEA Split History
MER Split History
MERC Split History
MGA Split History
MGG Split History
MHK Split History
MIL Split History

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Trovagene, Inc. (TROV)
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