It’s prime time at Ama­ ... Shares hit cov­eted $1,000 mark

The Hamilton Spectator - - BUSINESS - THE AS­SO­CI­ATED PRESS

NEW YORK — Ama­zon, the In­ter­net go­liath that rev­o­lu­tion­ized the way much of the world buys books, toi­let pa­per and TVs, hit a new mile­stone Tues­day.

Its stock sur­passed the $1,000 mark for the first time. That price put Ama­zon’s mar­ket value at about $478 bil­lion, dou­ble that of the world’s big­gest tra­di­tional re­tailer, Wal­Mart, and more than 15 times the size of Tar­get’s. A $1,000 investment on Ama­zon’s first day of trad­ing in 1997 would be worth more than $500,000 to­day.

Ama­zon just beat Google par­ent Al­pha­bet Inc. to the $1,000 level, with Al­pha­bet’s Class A shares parked at just $2 short of $1,000 on Tues­day.

Only four other U.S.-listed com­pa­nies have shares trad­ing above $1,000: Price­line Group, NVR Inc., Seaboard Corp. and Berk­shire Hath­away Inc.

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