Every time lowes splits its stock his wealth is enhanced

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My friend Tom believes that every time Lowes' splits its stock his wealth is enhanced. Tom believes this because Lowes splits its stock 2 for 1 every time it reaches $65 per share. Because of theses splits Tom now owns over 4,000 shares of Lowes' stock worth $260,000. Is Tom's belief correct? (Defend your response)

Reference no: EM131544382

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