On Friday, share prices in the world’s biggest online retailer Amazon saw a record 14% increase on Wall Street, according to the US news service, Bloomberg News.
This is the largest one-day gain in the history of the U.S. stock market, smashing the previous record of US$179 billion (€156.6 billion), which was set last week by Apple.
Amazon’s surge followed a rough day on Thursday, when its shares dropped by 7.8%, causing the company to lose $110 billion (€96 billion) of its stock market value, Belga News Agency reported. This was largely influenced by the poor performance of Facebook’s mother company Meta Platforms, which saw its value drop by $251 billion (€219.5 billion).
On Friday, however, Amazon bounced back following the announcement of good results for its cloud services and an increase in the price of Amazon Prime subscriptions.