Amazon (NASDAQ:AMZN) stock is rallying higher on Tuesday after speculative Tweets about a possible stock split sent shares soaring on Monday.
The Tweets in question come from FOX Business Network Senior Correspondent Charles Gasparino. He says that AMZN stock could be about to see a massive surge in value as a stock split could be announced as early as Thursday when Amazon released its earnings report.
BREAKING: Traders says an @amazon stock split is likely in 2021 possibly as early as Thursday when co reports earnings catapulting @JeffBezos significantly ahead of @elonmusk as the world's richest person as move would allow $AMZN to join the Dow more now @FoxBusiness
— Charles Gasparino (@CGasparino) April 26, 2021
Gasparino’s Tweet saw shares of AMZN stock experience a sharp increase yesterday. The stock continued to remain high and closed out trading on Monday at $3,409 per share. That was a more than 2% increase for the stock.
Gasparino expressed surprise that his Tweet sent AMZN stock higher. The FOX Business Network Senior Correspondent said he believed the news was “mostly baked into the price” as speculation about an Amazon stock split has been around for some time.
Very odd @amazon moved 80 points on the stock-split stuff, something speculated for the past year. Frankly I thought it was mostly baked into the price. Also great market reporting by @EleanorTerrett who has been working the phones on this more w @LizClaman @FoxBusiness 315 pm https://t.co/AeblR3vSaN
— Charles Gasparino (@CGasparino) April 26, 2021
It’s also worth pointing out that AMZN stock increasing right now makes sense outside of the stock split rumors. The e-commerce company is preparing to release its earnings report for the first quarter of 2021. It’s normal for stocks to see a rally ahead of earnings.
Amazon earnings will also play a part in how the stock performs in the future. The estimates that the company needs to beat Thursday are earnings per share of $9.54 on revenue of $104.46 billion.
It’s also possible that AMZN stock will see heavy trading today on speculation about the stock split rumors. As of this writing, more than 1.4 million shares of the stock have changed hands. That means it still has a way to go to reach its daily average trading volume of 3.5 million shares.
AMZN stock was up slightly Tuesday morning and is up 7.2% since the start of the year.
Of course, it’s not like AMZN is the only stock that investors need to keep an eye on.
Loads of other stocks are also making major moves today that investors should take note of. That includes Marathon Digital Holdings (NASDAQ:MARA),FTC Solar (NASDAQ:FTCI), and InspireMD (NYSEMKT:NSPR).
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- NSPR Stock: What You Should Know About InspireMD Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
