The logo of Amazon is seen at the company’s logistics center in Bretigny-sur-Orge, near Paris, France, December 7, 2021. REUTERS/Gonzalo Fuentes
March 10, 2022
(Reuters) – Amazon.com Inc said on Wednesday its board approved a 20-for-1 split of the e-commerce giant’s common stock and authorized a $10 billion buyback plan, sending the company’s shares up 7% in extended trading.
This is the first stock split by Amazon since 1999 and will give investors 19 additional shares for every share they hold. Trading based on the new share price will begin on June 6.
Amazon’s share split is similar to the one announced by Google parent Alphabet Inc last month. Several mega cap companies such as Apple Inc, Tesla and Nvidia have split their stocks since 2020.
Amazon’s stock, which closed at $2,785.58 on Wednesday, has nearly doubled over the last two years, when demand for both…
