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Amazon Announces Historic Stock Split and Share Repurchases
First Stock Split Since 1999
In a move that has sent shockwaves through the markets, Amazon (AMZN) announced its first stock split since 1999 on Wednesday, June 6. The 20-for-1 split will go into effect today, significantly increasing the number of shares available and making them more accessible to retail investors.
Details of the Split
Under the terms of the split, shareholders will receive 20 shares of Amazon stock for each share they currently own. This means that investors who owned 100 shares of Amazon stock will now own 2,000 shares. The split is designed to make the stock more affordable and attractive to a wider range of investors.
Impact on Share Price
Following the announcement, Amazon's stock price climbed slightly, reflecting the positive sentiment surrounding the split. At the time of the announcement, shares were worth $2,785. The split is expected to have a negligible impact on the overall value of Amazon's shares, as it simply increases the number of shares outstanding without altering the company's underlying fundamentals.
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