Amazon's stock just got cheaper

Amazon's stock just got cheaper

Amazon’s board has approved a 20-for-1 stock split.

This is Amazon’s fourth split since its IPO in 1997 and the first since 1999.

The split was done to put their stock within the reach of smaller, individual investors.

The cost of each share would go from $2,785.58 to $139.28.

Existing holders would get 19 additional shares for every one they own.

Distributions from the split will be made to Amazon shareholders on June 3.

The trading for new investors will begin on a split-adjusted basis on June 6.