Highlights

The split would be Amazon’s first in more than two decades
Amazon shares up over 10% in New York postmarket trading.

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Amazon makes stock 'cheaper' first stock split since 1999, $10 billion buyback

Name: Amazon makes stock 'cheaper' first stock split since 1999, $10 billion buyback
Uploaded: 2022-03-10T09:14:16.000+05:30
Duration: T00M41S
Channel: EJ Biz Desk
Description: 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 companyThe Amazon stock ...

Amazon on Wednesday said its board of directors has approved a 20-for-1 stock split.

Updated: Sep 02, 2022 10:53

EJ Biz Desk

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Amazon makes stock 'cheaper' first stock split since 1999, $10 billion buyback

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.