A broad cross-section of stocks tumbled again on Tuesday as market watchers focused on the Federal Reserve Bank's ongoing battle against inflation. Over the past several days, a couple of strong economic reports have increased concerns about the trajectory of an already overheated economy. With that as a backdrop, shares of Amazon (NASDAQ: AMZN) fell 2%, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) tumbled 2.4%, and Shopify (NYSE: SHOP) had slumped 4% as of 12:19 p.m. ET.
Even after its recent pullback, the e-commerce leader has generated fortune-building gains for long-term investors.
Several technology companies opted for stock splits in 2022 in a bid to make their shares more attractive to investors amid the broader stock market sell-off. Individual shareholders gain shares of the company but each share is worth less, so the overall holding remains unchanged. It does nothing to alter the fundamentals of the company making the split or affect its prospects going forward.