There is no "multiplier effect" in stocks. There is a financial multiplier that relates to the expansion and contraction of the money supply. And once again you can't quite grasp the arithmetic. So let me simplify it. You have a stock trading at $20 that pays a dividend of $1. 20 shares buys one share and another dollar income. That's $400 in wealth. But at $10 the same twenty shares buys you 2 shares. And I can't help but note that you can't seem to work out compounding on quarterly returns. The simple point is for decades HE stock traded around a small band. Until recently. So stock price rises and falls are relatively minor considerations. You create an example, it just doesn't apply here. My own example is extreme. It should have been $15 and $25.