(Bloomberg) — Amazon.com Inc. is planning to split its stock for the first time in more than two decades in a move that will end an era of four-digit stock prices for the biggest U.S. technology companies.
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Amazon intends to boost its outstanding shares by a 20-to-1 ratio, under a plan disclosed late Wednesday, joining other technology giants like Alphabet Inc. and Apple Inc. who have turned to splits to make their stocks more attractive to retail investors. That news combined with a $10 billion share-buyback authorization sent Amazon shares up as much as 11% in New York postmarket trading.
As Amazon’s stock price has ballooned over the years, speculation about a potential split has been a frequent subject of speculation, which was only heightened by Alphabet’s proposed 20-for-1 split disclosed last month. Amazon conducted three splits in the 2 1/2 years…
