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By Staff Reporters
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A mountain of economic data and earnings news emerged over the past month for two popular FAANG stocks that announced they’d be enacting stock splits.
First up was Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG), the parent company of internet search engine Google and streaming platform YouTube. Alphabet announced a 20-for-1 forward stock split that, as of the closing bell on March 9th, would bring its share price down to around $133 (for the Class A shares, GOOGL). Shareholders still need to vote to approve the split, which is expected to take effect in mid-July.
And, last week e-commerce giant Amazon (NASDAQ: AMZN) followed suit with a 20-for-1 forward stock split announcement of its own. Assuming it receives shareholder approval, Amazon’s lofty share price will come down to around $139, based on its March 9th close. This will be Amazon’s first stock split since September 1999.
Finally, the Federal Reserve is expected to raise its target fed funds rate by a quarter percentage point from zero at the end of its two-day meeting Wednesday. Investors are also looking to the central bank for its new forecasts for rates, inflation and the economy, given the uncertainty from the escalated geopolitical tensions.
Related: https://medicalexecutivepost.com/2022/02/07/what-are-fractional-stock-shares/
CITE: https://www.r2library.com/Resource/Title/082610254
Pi Day is celebrated on 3/14 because those are the first three numbers of the infinite string of numbers that make up Pi, 3.14.
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Filed under: Alerts Sign-Up, Glossary Terms, Investing | Tagged: Alphabet, Amazon, AMZN, FAANG, Federal Reserve, FOMC, google, inflation, NASDAQ, pi day |
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