Amazon Announces 20-1 Stock Split, First Since 1999
Company To Begin Trading With Split-Adjusted Price Today, June 6
Shares Soar To $2,785 By Close Of Market
In a move that has sent shockwaves through the financial world, Amazon (AMZN) has announced its first stock split since 1999. The 20-1 split will take effect today, June 6, and will see shareholders receive 20 shares for every share they currently own.
The move was announced on Wednesday, March 9, when Amazon's board of directors authorized both the stock split and a $10 billion share buyback plan. Shares of Amazon have been on a tear since the announcement, closing at $2,785 on Wednesday.
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