Amazon sees record-smashing one-day $190B surge in market cap

Amazon on Friday saw its shares spike in what ended up being a one-day record for market capitalization gains in the U.S., a surge that comes after the company released a smashing quarterly earnings report.

The online retailer saw its market cap jump $190 billion to around $1.6 trillion. 

The jump beats the record previously held by Apple, which just days ago posted a $181 billion one-day gain. 

The spike came after the company reported strong profits for the fourth quarter of 2021 and announced a hike in its Prime membership rates. 

The surge contrasts sharply with the recent devastating plunge in shares recorded by Meta this week, with the Facebook company losing a record $200 million in one day after reports of plunging user usage.