Why Amazon Is Seeing Really High Interest From Retail Investors Today

Amazon.com Inc. AMZN has emerged among the most-discussed stocks on Reddit’s r/WallStreetBets forum as of early Thursday.

What Happened: Amazon is seeing the second-highest interest on the forum behind exchange-traded fund SPDR S&P 500 ETF Trust SPY with 200 mentions at press time, data from Quiver Quantitative showed.

The stock is also the top trending ticker on Stocktwits.

See Also: How To Buy Amazon (AMZN) Stock

Why It Matters: Amazon on Wednesday announced a 20-for-one stock split on its common shares and said its board authorized a share buyback of up to $10 billion.

The company's stock split comes after similar moves by other large companies like Alphabet Inc. GOOG GOOGL, Apple Inc AAPL and Tesla Inc. TSLA.

The stock split could lead to Amazon’s inclusion in the Dow Jones Industrial Average Index.

Meanwhile, a U.S. congressional committee has urged the Justice Department to investigate Amazon for potential criminal obstruction of Congress, it was reported Wednesday, citing the Wall Street Journal.

Price Action: Amazon shares closed 2.4% higher in Wednesday’s regular trading session at $2,785.58 and further rose 6.6% in the after-hours session to $2,970.00.

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