Watch Amazon to Split Stock 20-1, Plans $10 Billion Buyback News Video

29 sec read

“Amazon . com shares are moving sharply higher in after-hours trading after the e-commerce and cloud-computing giant declared a 20-for-1 stock split and announced an expanded stock-repurchase program.

“While stock splits don’t mathematically create any value for holders—they’re the financial equivalent of cutting a pie into smaller pieces—retail investors tend to like them, and split announcements often trigger short-term rallies. And, in fact, Amazon shares (ticker: AMZN) are up nearly 7% on the news, at $2,978.

“Amazon also announced a $10 billion stock-repurchase plan, replacing a previous $5 billion stock-purchase authorization in which it had bought back $2.12 billion of its shares. The program doesn’t have a fixed expiration date.

“The Amazon split follows an announcement last month that Alphabet (GOOGL) is also splitting its shares 20-for-1, effective July 15. Apple (AAPL) split its stock 4-for-1 in 2020.”

Read more at Barron’s

Watch New ‘Project Hail Mary’ Official Movie Trailer Video

“Ryan Gosling is humanity’s last chance for survival in the upcoming film “Project Hail Mary.” “Based on Andy Weir’s epic sci-fi adventure novel, Amazon...
JM
14 sec read

Watch The Total Collapse of Katy Perry’s Career: Celeb…

“Katy Perry was once the bold, rebellious face of pop music. But behind the candy-coated image was a persona built more for mass appeal...
JM
12 sec read

Watch Orlando Bloom Posts Cryptic Message After Katy Perry…

“Katy Perry has new fears for her safety amid her split from Orlando Bloom – who has also recently shared a cryptic post to...
JM
22 sec read