The online retailing giant – Amazon Inc. – added more value to its share in just one day than more than 400 individual companies did in the S&P 500. Because of this, the shareholders of the e-commerce juggernaut are having a good day.
Amazon shares see a 13% hike in value
The shares of the online retailing giant have ramped up more than 13% to an all-time high on Friday, which was only a day after the e-commerce giant reported better-than-expected earnings. For the shareholders of the company, this profit represented $61.7 billion of additional value. According to FactSet, the Amazon shareholders own a company with over $529 billion total market value now.
According to FactSet, the “single-day increase is around the market value of FedEx and more than approximately 420 companies in the S&P 500.” In the benchmark index, the online retailer is the fourth-most-valuable company now. The current market value of FedEx is about $61.8 billion.
Jeff Bezos, the founder and Chief Executive Officer of the online retailing giant, is the richest man in the world. After the stock move of Amazon on Friday, the CEO has over $90 billion in wealth. In the market, the U.S.-based e-commerce company is currently one of the best-performing large-cap stocks. The shares of the company rallied 47% year to date through Friday in comparison to the 15% gain of the S&P 500.
Did you know about the newest food partner of Amazon Prime?
Fexy is Newest Food Partner of Amazon Prime. As the online retailer continues to move into the food sector, it is also partnering with several popular websites and firms to show its devotion to the food market. The Prime members of the tech giant will now see website buttons on the popular food websites that link to kitchen as well as food equipment on Amazon’s site.
The arrangement is with top sites owned by Simple Recipes, Fexy Media, and Serious Eats, according to the industry newsletter Food Drive. The sponsored recipes will feature Amazon Prime “Buy Now” buttons on those sites. Eligible shoppers can click on those buttons to add ingredients to their carts.
According to Fexy.com, “Fexy Media is a collection of authentic digital food & lifestyle brands with original voices for the millennial generation and beyond.” The company was founded in 2014 in Seattle Washington by investment professional, Ben Sternberg, and media veterans Cliff and Lisa Sharples.