It's not everyday you see an Internet company with a $35 billion plus market cap, up 25% in a single day.
At least not since 1999.
But one of the oldest horsemen of the internet, Amazon, managed to do just that following it's boffo earnings release yesterday (see press release and earnings call transcript via Seeking Alpha, along with the Techmeme discussion, for more).
As the New York Times puts it:
The news pushed up the company’s stock in after-hours trading to a level it has not reached since February 2000, during the heyday of the dot-com boom."
As someone who's followed the company since it was a start-up a dozen years ago, it's terrific to see the company prove out it's long-term thesis.
But as the second chart illustrates the New York Times' observation, the stock is just now returning to the levels it has attained almost three quarters of a decade ago.
Here's to tortoises winning the race.
Congratulations to Jeff Bezos and his team for delivering the vision.