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Company is Wall Street’s best loved mega cap.
By Ryan Vlastelica, BloombergÂ
4 Feb 2021 06:20
Sealed boxes move along a conveyor into a truck dock ahead of shipping from an Amazon.com fulfilment centre. Image: Bloomberg
Amazon.com breached the $1 billion-a-day revenue mark in 2020, in another example of how the companyâs massive growth and market dominance has made its stock a near-unanimous favourite on Wall Street.
The e-commerce giantâs fourth-quarter results brought full-year revenue to $386 billion. According to an analysis of Bloomberg data, Wamart is the only other US company with a $1 billion daily sales average, though Exxon Mobil has hit it in the past.
Facebook s sales jump; shares drop on 2021 uncertainty
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Shares of
Magnite (NASDAQ:MGNI), the world s largest independent sell-side ad tech platform, are rising sharply again on Wednesday, extending a strong run-up in the stock price over the past week. The stock rose as much as 22% but is up about 18% as of 12:20 p.m. EST.
The tech stock s gain builds on momentum following increased bullishness for the stock from analysts. Analysts optimism for the company has been growing as they recognize the company s potential as the leading sell-side platform (SSP).
Image source: Getty Images.
So what
In total, shares of Magnite have risen more than 60% over the past five trading days. The stock has gone from trading around $20 to more than $30.
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DoorDash attracted some positive attention on Wall Street Friday after getting knocked back to Earth earlier this week.
Susquehanna analyst Shyam Patil started Airbnb (ticker: ABNB) and DoorDash (DASH) with positive ratings and $180 and $185 price targets, respectively. Both companies have taken their respective industries by storm, Patil wrote. They also represent this year’s trend in initial public offerings (IPOs) big hoopla and a powerful first-day surge after pricing above their expected price range.
Airbnb listed last week at $66 a share and jumped to $146 on its first day of trading for a valuation of more than $100 billion. DoorDash priced at $102 a share and jumped to $182 the first day it started trading.
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