On Wednesday, March 9, Amazon (AMZN) dropped a bombshell: For the first time since September 1999, the first time this century — the first time this millennium — Amazon will split its stock.
And we’re not talking a tiny 2-for-1 or 3-for-1 split, either. After watching its share price rise an astounding 4,000%-plus over the last couple decades, Amazon will need to split its $2,900 stock into much tinier pieces in order to get the per-share price down to a reasonable-seeming level. Accordingly, Amazon announced it will split its stock 20 for 1.
Amazon’s news was big enough that it’s helped add nearly eight more percentage points to the stock price since the news broke. Big as the news was, though… the stock split is not the reason Deutsche Bank just initiated coverage of the stock. No, in a note delivered on Thursday, Deutsche Bank analyst Lee Horowitz outlined several reasons to…
