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Investors should not expect a big upward move on Netflix shares once it starts trading at its post-split price, CNBC's Jim Cramer said Wednesday.
"Let's not get too excited about this. There is no earnings announcement associated with this," Cramer said on "Squawk on the Street. " "That is really cosmetic. No value is being created by this split."
On Tuesday, the video streaming service company announced it had approved a 7-for-1 stock split. The split will be payable on July 14 and the stock will trade at the post-split price on July 15.
Read More Netflix splits stock 7 for 1
Netflix's stock opened Wednesday trading sharply higher.
"Apple, when it actually began to split [its stock], it was at $92.70; five days later it was at $92.20, so let's not get too excited," Cramer added. Apple authorized a 7-for-1 stock split in April 2014.
Nevertheless, Cramer said he believes Netflix remains on track. "It is doing a lot right," he said. "There's an interesting note from FBR [Capital Markets] saying that Netflix is on pace to have a larger network audience than all the networks together."
DISCLOSURE: Cramer's trust owned Apple stock when this article was published.