The Bamboo Splinter

Share this post
From an all-time high to a tumble.
bamboo.substack.com

From an all-time high to a tumble.

Amazon announces 20-for-1 stock split and Buyback plan & CrowdStrike stock soars

Bamboo
Mar 10
1
Share this post
From an all-time high to a tumble.
bamboo.substack.com

Hello there,

The ever-surging oil price tumbled on Wednesday to $109 a barrel. 

Why it matters: West Texas Intermediate crude declined 12% & brent dropped 13%. This sudden decline could be as a result of the U.S. encouraging oil production from other sources aside Russia. This decline also sent the Energy Select Sector SPDR (XLE) down by 3.1% after gaining more than 30% this year. (Barrons) (Barrons)

Amazon announces 20-for-1 stock split and Buyback plan

Amazon (AMZN) shares are moving sharply in trading after the cloud-computing and e-commerce giant declared a 20-for-1 stock split. 

Why it matters: The cloud-computing and e-commerce giant also announced a $10 billion stock-repurchase program. The program doesn’t have an expiration date. While stock-splits don’t necessarily create  value for holders, they often trigger short-term rallies and in fact, Amazon shares are up nearly 7% since the announcement. The Amazon split will take effect at the close of business on May 27. (Barrons)

CrowdStrike stock soars

Shares rallied 14% after the security software provider posted a revenue of $431million for its fourth quarter. 

Why it matters: This revenue is up 63% from a year-ago quarter and well-ahead of the Wall Street expectations of $410.9 million. For its April quarter, CrowdStrike (CRWD) is projecting a revenue of $459.9 million to $465.4 million, which is ahead of Wall Street’s consensus. We wait to see its results in April. (Barrons)

That’s it from us today,

See you tomorrow.

Share this post
From an all-time high to a tumble.
bamboo.substack.com
Comments

Create your profile

0 subscriptions will be displayed on your profile (edit)

Skip for now

Only paid subscribers can comment on this post

Already a paid subscriber? Sign in

Check your email

For your security, we need to re-authenticate you.

Click the link we sent to , or click here to sign in.

TopNew

No posts

Ready for more?

© 2022 Bamboo
Privacy ∙ Terms ∙ Collection notice
Publish on Substack Get the app
Substack is the home for great writing