Amazon stock jumped to an all-time high as Jeff Bezos handed over the company to new CEO Andy Jassy.
The stock peaked at $3,645 per share, which gives a tentative company value of $1.83 trillion. The markets closing on Monday due to the July 4 holiday helped the stock skyrocket, with it up 3.82 per cent from Friday’s close.
“We’re strategically patient, but tactically impatient,” Jassy wrote of the company’s future direction, in his first staff email as CEO.
“Speed disproportionately matters to customers, and to businesses of all sizes at every stage of their evolution. Few people wake up thinking, ‘I want my items to come more slowly.”
With insight like this, it’s going to be a smooth ride.