This unaltered story was originally published on RT Russian state media. [1]

(C) RT
This unaltered story was originally published on RT Russian state media. [1]
Published here by permission.
------------------

Amazon pockets biggest one-day value gain in US history

By: ['Russia Today']

Date: 2022-02

Media dubs e-commerce giant the ‘anti-Facebook’ after the social media site’s historic one-day drop the day before

US e-commerce giant Amazon gained a record $190 billion in market capitalization on Friday, which is the biggest single-day increase in a company’s stock market value in US history, Refinitiv data shows.

The company’s shares soared 13.5% after Amazon posted a blockbuster quarterly report late Thursday and said it would raise the price of its annual US Prime subscriptions by 17%. The market rally propelled Amazon’s overall value to around $1.6 trillion and allowed it to beat the previous record-holder, Apple, which logged a $181 billion one-day gain last month after its own quarterly report.

The surge in Amazon’s capitalization overshadowed the value of Wall Street darlings such as AT&T and Netflix. It also came one day after Facebook owner Meta Platforms’ stock lost nearly $200 billion in market value, posting the largest single-day loss for a US company on record. Meta’s nosedive followed the social media giant’s gloomy forecast for fiscal 2022. Meta slid around 0.3% more on Friday, ending the day at an estimated value of about $660 billion.

Despite the massive gain, Amazon did not make Wall Street’s top-three most valuable companies. Apple, Microsoft, and Google owner Alphabet keep the top spots, with respective market capitalizations of $2.8, $2.3, and $1.9 trillion.

For more stories on economy & finance visit RT's business section

[END]

[1] Url: https://www.rt.com/business/548410-amazon-biggest-one-day-value-gain/

RT via gopher://magical.fish/1/feeds/news/rt/