(Reuters) – No company’s stock market value has benefited more from the coronavirus pandemic than Amazon.com’s. FILE PHOTO: The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, April 22, 2020 after Amazon extended the closure of its French warehouses until April 25 included, following dispute with unions over health protection measures amid the coronavirus disease (COVID-19) outbreak. REUTERS/Pascal Rossignol The online retailer and cloud computing heavyweight’s market capitalization has ballooned by over $90 billion to record highs since mid-February, adding $5 billion to the fortune of founder and Chief Executive Jeff Bezos. Optimism about gradually reopening the U.S. economy has fueled a rally on Wall Street in recent weeks, but the S&P 500 remains down 13% since Feb. 19, just before fear caused by the coronavirus gripped Wall Street and ended the benchmark’s 11-year bull market. With online shopping booming as millions of people stay at home and avoid traditional stores, Amazon’s stock has climbed 9% in the same period, including a 2% jump on Wednesday. (Graphic: Amazon vs S&P 500 IMAGE link: here) “During this crisis, Amazon has proven irreplaceable in delivering the daily necessities to people around the world, a fact that… Read full this story
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