Shares of Amazon.com Inc. AMZN, +1.46% surged 1.2% in morning trading Wednesday, as they rose a 7-day win streak to trade above the $2,000 mark for the first time 9 months. The rally comes less than a week before the start of the Amazon Prime Day sales event, which runs from July 15 to July 16. 7th-straight gain would be the longest such streak since the 7-day stretch ending Sept. 4, 2018. The last time the stock traded above $2,000 intraday was Oct. 2, and the last close above that level was Oct. 1. Meanwhile, the e-commerce and cloud giant’s stock was still below the Sept. 4, 2018 record close of $2,039.51, while the Nasdaq Composite COMP, +0.75% S&P 500 SPX, +0.45% and Dow Jones Industrial Average DJIA, +0.29% have all reached all-time intraday highs. The current gain has lifted its market capitalization to $990.3 billion. Based on 492,331,776 shares outstanding as of April 17, according to Amazon’s latest 10-Q filing with the SEC, a close at or above $2,031.15 would give Amazon a market cap of $1 trillion.
Amazon's stock surges above $2,000 for first time in 9 months
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