When you say, "Are folks trying to keep the price low on purpose due to the split?"
Which folks are you talking about and how would that work?
If you truly believe that the wizard is behind a curtain pushing buttons and making the stock go up and down, you will be sadly disappointed when you realize he's as powerless as the wizard in that movie.
The market, in turn an individual stock, is like a breathing living thing(people like you and others as a collective..not me) and it moves based on things that move cars and traffic and products on shelves etc...emotions and impulses.
People like you aren't "thinking" 'um...let's keep the price low.'
The real 'folks' are just not buying and not enough people are caring about Alaska Air to make a difference.
Aside from that....splits do not change the valuation of a company. It just makes the stock more liquid over a period of time.
At any rate, I am interested in some lamb with a nice wine...What are you doing later? Oh...I am not asking you out...I plan on cooking you and carving you up....I'm the big bad wolf and I like to eat sheep like you.