By 
Retail behemoth Amazon.com Inc. will implement the stock split announced last month, bringing its shares down to $122.
Source: Yahoo! Finance
AMZN is up 1.93%, while ONLN is up 3.04%.
Amazon shares will start trading at $122 to reflect the 20-for-one stock split which secured shareholder approval last month. This compares with last Friday’s finish of $2,440.
Amazon said the split will provide employees more flexibility in the management of their equity in the company, and make the shares more accessible for prospective investors.
The stock split provides that investors on record as of May 27, 2022 will be given 19 additional shares for each one held, based on a filing with the corporate regulator.
Shares in the company have declined by over 26% so far this year, in line with the selloff which dragged the Nasdaq Composite index by 23%.
Comments