During his nearly 30 years running Amazon.com, Jeff Bezos may be best known for his relentlessly long-term focus on his company’s growth and insistence at ignoring investor shorter-term demands.
But with his tenure as chief executive ending this summer, investors are betting that new CEO Andy Jassy will be more welcoming to their wishes. including announcing a long-anticipated stock split that could juice shares of the online retailer now hovering around $3,480 per share.
Traders and investors are hoping to get some hints about a possible stock split on Thursday when Amazon releases first-quarter earnings after the close of trading. Amazon is expecting another strong quarter with revenue above $100 billion and profits between $3 billion and $6 billion. Speculation about a stock split, first reported earlier in the week by FOX Business led to a 2.04% gain in shares, one of the biggest spikes in Amazon stock all year.