We all know Amazon is an absolute juggernaut in the retail economy, but seeing the raw numbers of it all really makes your eyes pop:
A day after Facebook owner Meta Platforms suffered the deepest loss of stock market value in history for a US company, Amazon logged the greatest ever one-day increase in value.
Shares of the online retail and cloud computing giant surged 13.5 percent on Friday following its blowout quarterly report, expanding its market capitalization by around $190 billion by the end of trading.
Yeeaah. $190 billion is quite a chunk of change. Amazon's own market cap stands now at about $1.6 TRILLION.
"When was the last one-day record set?" you might ask inquisitively. Well, funnily enough, it was...literally last Friday:
That beat Apple Inc's record $181 billion one-day gain in stock market value on Jan. 28 following the iPhone maker's own blockbuster quarterly report, according to Refinitiv data.
The competition between these gargantuan corporations is intense: Apple skyrockets, Facebook tanks, Amazon beats Apple. Maybe it's all reversed next quarter. They're watching each other like hawks, each trying to outflank their competition. And all of these companies absolutely PRINT money and have everything at stake.
What a market we're in right now. I don't know about you, but for me, this is better than Yellowstone.
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