Southern Copper's Stock Split Doesn't Hurt Its Fundamentals One Bit

After the bell Wednesday, Southern Copper Corp (PCU) announced a 3 for 1 stock split to happen July 10th to shareholders of record 30th June (i.e. end 2Q08). I'm not a fan of these things, but some traders play the bumps made by hot splitting stocks and swear by the action it gives them. The downside to splitting a stock with a fairly low amount of shares out (it’ll still be under 900m once it’s all over, and the vast majority will still be in owner/institution hands) is that it gets more vulnerable to short selling. Whatever happens, it sure doesn't affect the underlying fundamentals, so I don't care that much. Anyway, the company is doing it, so be it, and we'll see what's what as the big day approaches. Message to Biiwii: Gary... you got a TA view on splits?

Meanwhile, here's a chart I put together once I'd realized something about yesterday's action.