I've looked around and can't find this info....I know the company is splitting and a share of ABT will give one share of Abbvie. If Abbvie is selling at $35 currently, does that mean ABT will then be worth $35 (or $30?) post split as well? So someone who owned ABT at $65 now has $70 worth of stock? I appreciate your help in clearing this up! Take care
It all depends on where abbv opens today. When Kraft did a spin off it was great for their investors. Companies do a spin off when they feel the market isn't correctly valuing their company as a whole. So make 2 companies doing 2 different things and see what happens.
ABBV at the current time is selling for $34.51 and ABTWI is selling for $30.20, which added together equals $64,71. ABT at the current time is selling for $64.71. Just as if you took $20 to the bank and got change, say two $10, they are the same. And, no when one changes a $20 bill at the bank for 2 $10 dollar bills, one doesn't pay a tax.