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• The stock split was approved by shareholders last month
Amazon.com Inc’s (NASDAQ: AMZN) 20-for-1 stock split went into effect on Monday, making its shares more accessible to people.
The stock split, which was approved in March by company’s board, got the nod from shareholders as well last month.
Shares of the company rose 2% on Monday to $124.79.
The last split in stocks by Amazon was done in 1999 during the dot-com boom. The value of the company or the worth of a shareholders’ investment is unaffected by a stock split.
Amazon investors who owned the stock as of May 27 will get 19 additional shares for every share they own.
Picture Credits: Reuters
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