{"slug":"disadvantages-of-a-stock-split","qid":"split_cohort","label":"A one cent tick before and after real forward splits","post_title":"The Real Disadvantages of a Stock Split","post_url":"/blog/disadvantages-of-a-stock-split#q-split_cohort","columns":["ticker","effective_on","split_label","tick_before_bps","tick_after_bps"],"rows":[{"ticker":"CMG","effective_on":"Jun 26, 2024","split_label":"50-for-1","tick_before_bps":0.03,"tick_after_bps":1.518},{"ticker":"RGC","effective_on":"Jun 16, 2025","split_label":"38-for-1","tick_before_bps":0.044,"tick_after_bps":1.667},{"ticker":"BKNG","effective_on":"Apr 6, 2026","split_label":"25-for-1","tick_before_bps":0.023,"tick_after_bps":0.568},{"ticker":"MULL","effective_on":"Jun 26, 2026","split_label":"25-for-1","tick_before_bps":0.113,"tick_after_bps":2.836},{"ticker":"KORU","effective_on":"Jul 15, 2026","split_label":"20-for-1","tick_before_bps":0.229,"tick_after_bps":4.572},{"ticker":"MUU","effective_on":"Jul 15, 2026","split_label":"20-for-1","tick_before_bps":0.16,"tick_after_bps":3.198},{"ticker":"ORLY","effective_on":"Jun 10, 2025","split_label":"15-for-1","tick_before_bps":0.073,"tick_after_bps":1.09},{"ticker":"PTIR","effective_on":"Jul 9, 2025","split_label":"15-for-1","tick_before_bps":0.313,"tick_after_bps":4.701},{"ticker":"AVGO","effective_on":"Jul 15, 2024","split_label":"10-for-1","tick_before_bps":0.058,"tick_after_bps":0.583},{"ticker":"BULZ","effective_on":"Feb 24, 2026","split_label":"10-for-1","tick_before_bps":0.496,"tick_after_bps":4.955},{"ticker":"COKE","effective_on":"May 27, 2025","split_label":"10-for-1","tick_before_bps":0.089,"tick_after_bps":0.886},{"ticker":"KLAC","effective_on":"Jun 12, 2026","split_label":"10-for-1","tick_before_bps":0.039,"tick_after_bps":0.393}],"shape":"table","sql":"WITH forward_splits AS (\n    SELECT\n        ticker,\n        execution_date,\n        toUInt32(any(split_to))   AS to_shares,\n        toUInt32(any(split_from)) AS from_shares\n    FROM global_markets.stocks_splits\n    WHERE execution_date BETWEEN '2024-01-01' AND '2026-09-30'\n      AND split_to > split_from\n      AND ticker NOT IN ('SPCX')\n    GROUP BY ticker, execution_date\n),\nqualifying_sessions AS (\n    SELECT\n        ticker,\n        date,\n        toFloat64(close) AS close_px\n    FROM global_markets.stocks_daily_aggs\n    WHERE date BETWEEN '2024-01-01' AND '2026-10-06'\n      AND volume >= 500000\n      AND ticker IN (SELECT ticker FROM forward_splits)\n),\nfirst_close AS (\n    SELECT\n        s.ticker                      AS ticker,\n        s.execution_date              AS effective_date,\n        s.to_shares                   AS to_shares,\n        s.from_shares                 AS from_shares,\n        argMin(f.close_px, f.date)    AS close_after\n    FROM forward_splits AS s\n    INNER JOIN qualifying_sessions AS f ON f.ticker = s.ticker\n    WHERE f.date >= s.execution_date\n      AND f.date <= s.execution_date + 6\n    GROUP BY s.ticker, s.execution_date, s.to_shares, s.from_shares\n)\nSELECT\n    ticker,\n    formatDateTime(effective_date, '%b %e, %Y')                       AS effective_on,\n    concat(toString(to_shares), '-for-', toString(from_shares))       AS split_label,\n    round(100.0 / (close_after * to_shares / from_shares), 3)         AS tick_before_bps,\n    round(100.0 / close_after, 3)                                     AS tick_after_bps\nFROM first_close\nWHERE close_after >= 10\n  AND to_shares / from_shares >= 2\nORDER BY to_shares / from_shares DESC, ticker\nLIMIT 12","computed_at":"2026-10-07T16:08:46.452564+00:00","elapsed":0.005794592}