Monday, June 5, 2017

Amazon's Big Year

Amazon’s stock ended at $1,007 Friday, the first time it closed in four figures. It briefly pushed above $1,000 during Tuesday’s trading session before finishing at $997. Google parent Alphabet also came within pennies of $1,000, ending the week at $996.

Though it is a retailer, Amazon stock is acting much more in line with the other big tech firms. Amazon shares have climbed more than 34 percent this year, trouncing shares of traditional retailers. The SPDR Retail exchange-traded fund, which tracks more than 100 stocks, is down more than 6 percent on the year.

Amazon is keeping pace with the big gains that have been posted by tech stalwarts like Facebook and Apple. Each of those stocks has climbed 34 percent this year.

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