Forbes says AAPL is down 85%, isn't quite sure how stock splits work
You'd think that an outlet that specialized in financial news would have a pretty good handle on the workings of Wall Street. You'd think that but you'd be wrong, at least in the case of Forbes, which is noting via its inline stock tracking widget that AAPL is down a shocking 85% today by dropping over $551 per share as of this writing. OMG!
Of course, there's nothing to fear here, as Apple's stock price is simply a result of the 7-for-1 stock split that went into effect today. The vast majority of financial outlets and their slick stock tools handle this change in the correct manner, which is to split the stock price retroactively so that the current value is reflected correctly. But not Forbes. Because Forbes.
