Stocks

AMZN Stock: Amazon surges ahead of earnings and stock split rumors

Shares of Amazon (AMZN) surged 30% on market open as the company is due to report its first earnings report in 2021, after hours on April 29. Many analysts expect an estimate of $9.49 with a high estimate of $12.

According to TipRanks, 37 analysts have set a buy on AMZN with an average price of $4,119, a high of $5,200 and a low of $3,700 within the next 12 months.

Senior Correspondent Charles Gasparino of FOX Business Network sent the tweets in question. He predicts that AMZN shares would skyrocket in valuation as a stock split may be revealed as soon as Thursday, when Amazon releases its earnings report.

As a result of Gasparino’s Tweet, Amazon’s stock rose sharply yesterday. The shares continued to trade at a high level, closing at $3,409 per share on Monday. There was a more than 2% rise in the stock price.

Gasparino was taken aback when his Tweet boosted AMZN stock. The news was “mostly baked into the price,” according to the FOX Business Network Senior Correspondent, and gossip of an Amazon stock split has been circulating for some time.