Amazon\'s front door|Robert Scoble|CC BY 2.0
E-commerce giant Amazon announced its’ first-ever stock split since the dot com boom on Wednesday, stating that investors will now receive an additional 19 shares for every share held.
Sources at Amazon added that the board allowed for the repurchase of shares of up to $10 billion, which increased the stock price by 6% during extended trading.
Although cosmetic, stock splits allow access to shares for a broader range of investors, thanks to the reduced pricing. This makes Amazon the latest firm to divide its shares, joining other big players like Google, Apple, and Tesla.
