Economy

Amazon stock rose 7% in after-hours trading after the tech company announced a 20-for-1 stock split and a $10 billion share buyback authorization. The stock finished the regular trading day at $2,785.58, up almost 3% in a stellar session across the board for Wall Street.

Shares in the company have been comfortably above $3,000 throughout 2021 before slumping this year along with those of many other tech firms. They have risen more than tenfold over the past decade, making Amazon one of the world’s most valuable companies, with a market capitalization north of $1.4 trillion.