I'm sure they had a target price in mind (something that would be low enough to attract investment but high enough to not seem cheap) and just split the appropriate amount to get that number.
That's just so... wrong. I know some investors are going off things like that but doesn't it bother anyone that such an important part of finance depends on people looking at numbers in a totally irrational way? Like, simply not even doing the math. Even on investment sites, I've seen people say "it's crazy that foo is at $20 but bar is at $50". It's as dumb as someone saying they prefer Zimbabwe Dollars cause it's easier to become a trillionaire.
