Hey it’s Scott Alan,
Shopping sure has changed!
Amazon stock hit $1,000 for the first time on Tuesday (May 30th), putting the company’s market value at $478 billion – twice that of Wal-Mart, the world’s biggest traditional retailer.
Amazon reaches this milestone 20 years after going public. A $1,000 investment on Amazon’s first day of trading in 1997 would be worth $500,000 today. It began in 1995 as a website to sell mostly books, but has since branched out into all areas of retail and beyond, and is a big reason why the mall isn’t as crowded as it used to be.