Amazon shares surged 7% in premarket trading as stock split news.
Amazon Board of Directors approved a 20-for-1 split of the company’s common stock, which is subject to shareholder approval of the Amendment at the 2022 Annual Meeting of Shareholders, scheduled to take place on May 25. Upon approval, each shareholder of record at the close of business on May 27 will receive 19 additional shares of common stock for every one share held in their accounts on or about June 3. Trading on a split-adjusted basis will start on June 6.
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