Amazon reports highest one-day gain of $190 billion

• Amazon shares rose 13.5% on Friday after reporting stellar quarterly results

• Amazon is now valued at about $1.6 trillion

Shares of Amazon (NYSE: AMZN) posted the greatest one-day increase in value, a day after Facebook parent Meta Platforms (NYSE: FB) recorded deepest lost in U.S. history ever.

Amazon shares rose 13.5% on Friday after reporting stellar quarterly results, increasing its market capitalization by around $190 billion. Amazon is now valued at about $1.6 trillion.

This is higher than Apple Inc. (NYSE: AAPL) rise of $181 billion one-day gain on January 28 after reporting excellent quarterly results.

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Amazon reported better-than-expected profits on Thursday and also announced to hike the price of its annual U.S. Prime subscriptions by 17%.

On Thursday, Meta Platforms’ value fell more than $200 billion in the biggest single-day loss for a U.S. company.

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According to Refinitiv, Apple, Microsoft Corp (NYSE: MSFT) and Alphabet (NYSE: GOOGL) are the most valuable companies of Wall Street.

Picture Credits: Reuters