It might look as if Starbucks shares are down 50% on Thursday. 

Except they're not. 

On Thursday, Starbucks will begin trading on a split-adjusted basis after its 2-for-1 stock split was paid Wednesday after the market close. 

This means that for every share of Starbucks you owned, you now have two at half the price. You can read the company's announcement from March about this here. 

Everything else is the same. (Except earnings per share, which are exactly half what they were before.)

In premarket trade Thursday, shares of Starbucks were up about 0.6% to $47.90 per share.

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