Amazon gets first dance with $1000 share price – Los Angeles Times

The technology sector’s remarkable run on Wall Street this year produced a new milestone Tuesday as shares sold for $1,000 for the first time.

The Internet superstore has seen its share price double in less than two years, a period in which the Seattle company’s rapid growth around the world has upended the shopping, entertainment and data storage industries.

Hovering around the rarefied $1,000-mark will do little to change Amazon’s day-to-day business, but it could boost the company’s cachet and free it from some stock-market volatility.

“For a lot of consumers and investors, the checkered flag has been waved,” said Ryan Jacob, whose firm Jacob Asset Management specializes in tech investments. “Amazon is the dominant player in retail today, and it’s hard to imagine anyone having the resources to catch up.”


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