Need help with stock splits

[Lou]

Need someone to explain to me the stock split for Lehman Brothers today. They were doing a 2 for 1 stock split payable today. My question is I thought when that happens doesnt the stock go from $155 to $72.50? Its still at $150ish at the close today...I guess Im missing something

[oldboldpilot]

Without delving too deeply into it.....they may be paying the people who hold the stock as of this date but that isnt necessarily the date that the stock split itself takes place.

[Lou]

makes sense...i know you needed to be of record april 18th and they were paying it today...i just figured that meant the split would be today

[Mad Girl Investor]

http://www.investopedia.com/terms/s/stocksplit.asp

[MoMoney4Me]

The stock split is being effected in the form of a 100% common stock dividend, payable April 28, 2006, to stockholders of record as of April 18, 2006.
If you own the stock, the split should appear on your account activity in your brokerage account after Friday's close.

The adjusted stock price will be reflected in Monday's opening.