Amazon splits stock 20-for-1, reports $10-billion share buyback

Amazon conducted three splits in the 2 1/2 years following its 1997 initial public offering and then halted the practice

Amazon.com is planning to split its stock for the first time in more than two decades in a move that will end an era of four-digit stock prices for the biggest US technology companies.

Amazon intends to boost its outstanding shares by a 20-to-1 ratio, under a plan disclosed on Wednesday, joining other technology giants like Alphabet and Apple who have turned to splits to make their stocks more attractive to retail investors. That news combined with a $10 billion share-buyback authorisation sent Amazon shares up as much as 5 per cent intra day on Thursday.

As Amazon’s stock price