Amazon.com Inc.'s shares soared over 5% on Monday after the company's 20-for-1 stock split, announced earlier in March, went into effect today. The previous split was last done two decades ago in 1999.
The stock split made the tech giant's share price more accessible to new individual investors. The SEC filing from March stated that "each Company shareholder of record at the close of business on May 27, 2022, will have 19 additional shares for every one share held as of such date reflected in their accounts on or about June 3, 2022."
Amazon's shares surged 5.11% at 10:55 am ET to sell for $128.48.
