Amazon Announces First Stock Split Since 1999

A 20-1 Stock Split Goes into Effect Today, June 6th

Shares Were Valued at $2,785 at the Time of the Announcement

Amazon has announced its first stock split since 1999. This 20-for-1 stock split went into effect on June 6th, 2022. At the time of the announcement, Amazon shares were valued at $2,785.

The stock split was announced on Wednesday, March 9th, 2022. The company's board of directors authorized the split as well as a $10 billion stock buyback program.

Stock splits are typically done to make a company's stock more affordable to a wider range of investors. By increasing the number of shares outstanding, the price of each share goes down. This can make it more appealing to smaller investors who may not be able to afford to buy a full share of a high-priced stock.

Amazon's stock split is a major event for the company and its investors. It will undoubtedly generate a lot of interest and trading activity in the coming days and weeks.