Amazon Jumps on Plan to Split Stock, Buy Back Up to $10 Billion
- The split would be Amazon’s first in more than two decades
- Changes aimed at more employee flexibility, Amazon says
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Amazon.com Inc. 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 U.S. 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 Inc. and Apple Inc. 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.