For the first time ever, Amazon’s stock price crossed $3,000 per share. The e-commerce conglomerate has benefited greatly from the coronavirus induced global lock down. With the world’s populace confined to their homes (minus Florida), online purchases on the platform have seen a significant increase. This has resulted in stock increase of over 50% this year.
Amazon was founded by Jeff Bezos on July 5th, 1994. The company has acquired a plethora of subsidiaries including Goodreads, Whole Foods Markets, Twitch and recently Zoox. By revenue, Amazon is the largest Internet company in the world.
With earnings still to come, it will be interesting to see how much further the stock has to run. With coronavirus cases still spiking in Brazil, India and the United States, the online giant may blow past this historic milestone.