Jeff Bezos' Amazon Stock Surged 14% After a Blowout Earnings Beat, Adding $25 Billion to His Fortune. Is the Stock Still a Buy After the Rally?
The tech mogul is the world's third-richest person.
Overview
To say that Amazon's (NASDAQ: AMZN) second-quarter financial results were well received would be an understatement. Shares surged 14% just after the news, with the business now sporting a market capitalization that's just under $3 trillion.
Jeff Bezos, who stepped down as CEO in 2021 and has been chairman of the board since, owns more than 8% of the company's outstanding shares. The post-earnings jump immediately added $25 billion to his fortune on the morning of July 31. He's the world's third-richest person, just behind Alphabet co-founder Larry Page.
Details
Is the "Magnificent Seven" stock still a buy after its huge rally?
Source
Originally published at www.fool.com.
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