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November 22, 1998

AMAZON SHARES SURGE AFTER SPLIT

By CBR Staff Writer

Shares of online bookseller Amazon.com Inc soared Friday after the company announced it was splitting its stock three-for-one. Amazon stock rose by 18% after the announcement to close at $180.63. The split is the second for Amazon this year, a period in which the shares have quadrupled in value and brought the company’s market capitalization to well over $9bn. Amazon, which in June added music to its offerings, has more recently branched out into videos and general gifts as it gears up for a lucrative holiday shopping season.

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