Latest News

Amazon stock surges toward best 4-day performance in 2 years after stock split approved


Shares of Inc.

charged 5.7% higher to $2,435.01 in afternoon trading, to put them on track for a fourth-straight gain. The ecommerce and cloud behemoth’s stock has soared 17.0% in the four days since it closed at $2,082.00 on May 24, which was the lowest close since April 9, 2020. That would be the stock’s best four-day performance since it ran up 17.9% over the four-day stretch that ended April 16, 2020. Amazon disclosed late Friday that its shareholders had approved an amendment to its restated certificate of incorporation to effect a 20-for-1 stock split, in which each Amazon shareholder will receive 19 additional shares for each Amazon share they own. The stock is scheduled to begin trading on a split-adjusted basis on Monday, June 6. At current prices, the stock would be priced at $121.75 after a 20-for-1 split. The stock has dropped 27.0% year to date, while the SPDR Consumer Discretionary Select Sector ETF

has shed 23.7% and the S&P 500

has lost 12.6%.

June swoon is more likely than not for stock market

Previous article

Taco Bell locations are running out of Mexican Pizza less than two weeks after its return

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News