What's going on with Amazon's stock split?

March 9 (Reuters) - Amazon.com Inc said on Wednesday its board approved a 20-for-1 split of the e-commerce giant's common stock and authorized a $10 billion buyback plan, sending the company's shares up 7% in extended trading. This is the first stock split by Amazon since 1999 and will give investors 19 additional shares for every share they hold.

When does AMZN stock split start?

The first will be May 27, 2022, which will serve as the record date. That means if you want to participate in the stock split, you must own AMZN stock by May 27. Individual accounts will start to update to reflect the stock split by June 3, 2022. Finally, AMZN will start trading on what is called a split-adjusted basis by June 6, 2022.

What happened to Amazon's stock in 2022?

Stock splits have been taking over headlines in 2022. In March, Amazon joined the tech gang by announcing that its 20-for-1 stock split was approved by the board of directors. The stock shot up after the news, but shares of the tech behemoth tumbled to their 52-week low a few days before the company's 2022 annual shareholders' meeting.

What happened to Amazon after the 20-for-1 split?

Amazon, whose 20-for-1 split took effect Monday, is among companies whose stocks have tumbled since the moves were announced amid a broad market selloff that’s been especially painful for the technology sector. Shares of the e-commerce giant rose 2% in New York after the split, but shares are still down about 10% since reporting the plan in March.