NEW DELHI: Amazon is planning to split its stock for the first time in more than two decades in a move that will end an era of four-digit stock prices for the biggest US technology companies.
Amazon intends to boost its outstanding shares by a 20-to-1 ratio, under a plan disclosed late Wednesday, joining other technology giants like Alphabet and Apple who have turned to splits to make their stocks more attractive to retail investors. That news combined with a $10 billion share-buyback authorization sent Amazon shares up as much as 11% in New York postmarket trading.
