US e-commerce giant Amazon gained a record $190 billion in market capitalization on Friday, which is the biggest single-day increase in a company’s stock market value in US history, Refinitiv data shows.
The company’s shares soared 13.5% after Amazon posted a blockbuster quarterly report late Thursday and said it would raise the price of its annual US Prime subscriptions by 17%. The market rally propelled Amazon’s overall value to around $1.6 trillion and allowed it to beat the previous record-holder, Apple, which logged a $181 billion one-day gain last month after its own quarterly report.