The company announced Wednesday that its board has approved a 20-for-1 stock split, its first split since 1999. If approved by shareholders in May, the split will take effect June 6.
Amazon closed Wednesday at $2,785 per share. If there was a stock split today, Amazon's stock price would be $139 per share.
Don't worry, Amazon stockholders (which is pretty much everyone with a retirement account these days) — your bets will still be worth the same. When all is said and done you will have 20x more shares.
Companies split their shares for several reasons: Splits can put their stock within reach of smaller, individual investors.