Amazon surges as stock split, buyback excite investors
The company on Wednesday announced a 20-for-1 stock split, its first since 1999, and a $10 billion share buyback. It comes on the heels of a similar split announced by Alphabet Inc earlier this year. “Amazon’s management is looking to instill fresh confidence,” AJ Bell Investment Director Russ Mould said, adding that the buyback was the company’s first direct distributions of cash back to its shareholders since its stock market debut.
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