E-Commerce giant Amazon has announced a stock split making the marquee company available at a 'buyable' price. Amazon is splitting the stock 20-for-1, which will bring down the 4-digit price of the tech company
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The Amazon stock is at over $2700 (March 9 LTP), recording a 4000% rise since its last split in 1999. Alphabet and Amazon are the last two of the five biggest U.S. technology companies by revenue that have four-digit stock prices.
In another big announcement, Amazon board approved a buyback worth $10 billion dollars to shore up the stock that is down 16% this year amid a broad selloff in technology.