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Cyber Monday Drives Amazon Stock to Record Heights

a.com_logo_RGB1.jpgAs Internet users flocked to Amazon.com (AMZN) on Cyber Monday (the web-based alternative to Black Friday shopping), the stock price at the online bookseller has jumped dramatically.

UPDATE: As of 4 p.m., the stock price sat at $135.91. According to CNN Money, the stock hit a record high today: “One of the most-notable gainers was Amazon.com Inc. (AMZN), which climbed as much as $3.51 a share to an all-time high of $135.25 on belief that the online retailer will benefit from strong weekend holiday-shopping sales.”

In addition, an Amazon spokesperson Cinthia Portugal told the Pittsburgh Post-Gazette: “For every 100 books we sell in physical, we sell 48 Kindle books”–one of the first concrete figures that Amazon has revealed about the sales of the device. (Via Sarah Weinman)

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