Netflix surges on stock split, expansion talk
Netflix stock leaped to a record high Wednesday on reports of a pending stock split, continued international expansion and more original shows coming to the Internet television service. Netflix stock was up 5%, near 679, in afternoon trading on the stock market today. Earlier, Netflix stock touched a high of 692.79. Netflix stock rose 3.2% on Tuesday. On Tuesday, Netflix shareholders approved a big increase in the number of shares the company is authorized to issue, the first step toward a possible stock split, Reuters reported. The subscription streaming video company won approval to raise its share authorization by nearly 30 times to 5 billion from 170 million, Reuters said. Netflix (NFLX) lately has been focused on building out its global footprint and attracting subscribers with exclusive original content. Last week, Netflix announced plans to enter Italy, Portugal and Spain in October. It also plans to launch in Japan in…