Amazon Now Worth $1.1 Trillion As Stock Hits All-Time High Amid COVID-19 Crisis
Due to high demands during the coronavirus (COVID-19) crisis, Amazon stock has reached an all-time high, and now the company is valued at more than $1.1 trillion.
The company’s stock up shot up to 4.2% on Tuesday morning (Apr 14), trading over $2,260 per share; beating out its previous all-time high on February 19 when it ended the day up 5.3% to $2,283.32.
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While the coronavirus’ stay-at-home orders put a halt on what used to be normal life, Amazon’s unique services have allowed people to keep safe at home, while ordering essential goods. the company’s even said they’d hire over 175,000 people to keep up the growing demand.
Additionally, even once quarantines are lifted everywhere, the company looks to retain most of its customers, especially those whose loyalty is gained during the crisis.
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In addition to Amazon, stocks shares and value in Netflix, Zoom, Domino’s and more have jumped tremendously, as residents everywhere obey their local government’s stay-at-home emergency orders.