Amazon shareholders approved a 20-for-1 stock split Wednesday which will lower the price of the stock for investors and could bode well for other companies planning to do the same.
Since the proposed share split was announced on March 10, the stock has dropped 29%. During the first quarter, Amazon posted its first quarterly loss since 2015 of $3.8 billion or $7.56 per share compared to $8.1 billion, or $15.79 during the same period a year ago. Adding to the negative sentiment, all three of the major averages are off sharply for 2022 with theStill, Scott Redler, co-founder of T3 Trading, sees some opportunity with the split, which he predicted would be approved.
"The next quarter or so will be very challenging. So don’t buy it all at once" Redler told FOX Business. "The S&P 500 can see 3,600 this summer. If that’s the case there will be better entries."
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