Amazon Stock News and Forecast: The great 20-for-1 AMZN split arrives – FXStreet

• On Monday Amazon will give investors 20 shares for every one they owned on Friday, June 3.
• The new split-adjusted shares are trading at $123.33 in Monday’s premarket.
• Typically, share splits cause a rally in price action.

Amazon (AMZN) is set to trade in the low $120s for the first time since 2010. That is because the king of ecommerce, starting Monday, June 6, will begin trading at its new price based on a 20-for-1 share split. After closing up at $2,447 on Friday, AMZN stock is already exchanging hands at $123.33, which is about 0.8% higher than Friday’s split-adjusted closing price of $122.35. Data from Bank of America states that on average S&P 500 companies that have share splits gain 25% over the following 12 months as their share prices become more attractive to retail buyers scared about high share prices.

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Read Full Story: https://www.fxstreet.com/news/amazon-stock-news-and-forecast-the-great-20-for-1-amzn-split-arrives-202206061143

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