NEW YORK—Amazon’s stock split may provide some solace to shareholders who have seen the e-commerce giant’s shares battered this year.
Amazon shares were up 3.1 percent to $126.17 in afternoon trading after the 20-for-1 split, announced earlier this year but which took effect Monday. They have fallen 24 percent year-to-date, roughly comparable to the loss in the Nasdaq Composite, as rising interest rates slam risk appetite and pressure shares of high-growth companies.
