It’s not just Netflix that has seen its share value climb significantly during the COVID-19 crisis. The world’s biggest online store, Amazon, has reached its highest-ever stock price.
On Tuesday, April 14, the company’s share price jumped by 5 percent, to reach an all-time high of more than $2,280 per share. With the bigger valuation, Amazon now has a total market value of more than $1.1 trillion. According to Variety, Amazon’s previous per-share record was $2,170 back in February.
Amazon was already an incredibly popular online store, but with more and more people staying home amid the global pandemic, people are doing even more shopping online these days. Not only that, but Amazon hosts a huge library of video content to stream during lockdown for Prime subscribers.
Some shipments from Amazon have been delayed due to this increased demand, and the company responded by hiring 100,000 more staff. On April 13, the company announced it would hire 75,000 more employees, while the company is also injecting $500 million to increase pay for its workers.
Some Amazon warehouse workers have organized protests related to how Amazon has failed to protect its workers from the virus. According to The Washington Post, Amazon fired two employees who spoke critically of Amazon’s response.