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Amazon.com (AMZN) Shares Surge 7% as Stock Split News Stirs Dow 30 Addition Talk

StreetInsider2022-03-09

Amazon.com, Inc. (NASDAQ: AMZN) shares were trading more than 7% higher after-hours following the company’s announcement, according to which, its 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.

Furthermore, the company’s Board of Directors authorized a share repurchase of up to $10 billion of the company’s common stock, which will replace the previous $5 billion stock repurchase authorization, under which the company had repurchased $2.12 billion of its shares.

News of the stock split has stirred speculation that the company could become eligible for the Dow Jones Industrial Average if the split is approved by shareholders. The Dow is a price-weighted index, so the current Amazon stock price of around $3000 makes it ineligible.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment39

  • JNJQ
    ·2022-03-10
    How exciting!
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  • jllwang
    ·2022-03-10
    Great!
    Reply
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  • All in Tesla
    ·2022-03-10
    Wow good news for investors 👏
    Reply
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  • Jialatsia
    ·2022-03-10
    Meep
    Reply
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  • MSTAN
    ·2022-03-10
    Good 😁😁
    Reply
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  • Steven Tay
    ·2022-03-10
    Ok
    Reply
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  • HweeLing Goh
    ·2022-03-10
    This is good news! Just happened that I bought the shares when it dipped a few days ago.
    Reply
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  • Cockatoo
    ·2022-03-10
    👏
    Reply
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  • Tiyenger
    ·2022-03-10
    Awesome
    Reply
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    • Cockatoo
      ☝️
      2022-03-10
      Reply
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  • Swcs
    ·2022-03-10
    Love it!!!
    Reply
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  • Swcs
    ·2022-03-10
    Nice!! More affordable 
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    • tanpp2307
      Agree.
      2022-03-10
      Reply
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  • JLSE
    ·2022-03-10
    👍👍👍
    Reply
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  • Charging
    ·2022-03-10
    [smile] 
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  • RDPD富爸穷爸
    ·2022-03-10
    The positive takeaway from this news is it is now easier to own 100 shares to sell covered call. Option strategies also become cheaper as a result from this split which is great
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    • ___ _
      yalor
      2022-03-10
      Reply
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    • KevYu
      [Serious]
      2022-03-10
      Reply
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    • Wayneqq
      Indeed! [Cool]
      2022-03-10
      Reply
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    View more 1 comments
  • Mr_9
    ·2022-03-10
    Good news [Miser] [Wow] 
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  • InverseCramer
    ·2022-03-10
    Awesome! Google and Amazon stock split inMay/June this year! Such amazing news! Somuch to buy but so little money! 😩😩😩$Amazon.com(AMZN)$$Alphabet(GOOG)$
    Reply
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    • MOON88
      To the moon
      2022-03-10
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  • Awesomelee
    ·2022-03-10
    Amazing Amazon 
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    • SSVC
      K
      2022-03-12
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  • K20
    ·2022-03-10
    Like
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  • NgYH
    ·2022-03-10
    Nice. 
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  • Aurum
    ·2022-03-10
    Pls comment and like
    Reply
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    • K20
      kk
      2022-03-10
      Reply
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    • Aurum
      Ok
      2022-03-10
      Reply
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    • Gerinit
      👍
      2022-03-10
      Reply
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