Amazon Surges to $1 Trillion. 3 Things to Know Today. Stay in the know in 60 seconds.
By Hayden Field
1. Yesterday, Amazon reached a trillion-dollar market cap for the very first time. That made it the second publicly traded U.S. company to ever reach that benchmark, after Apple five weeks ago. By end of day, share prices had fallen, decreasing the company's valuation to $995 billion -- but it probably won't stay that way for long.
2. Theranos Inc. will soon be no more. The blood-testing company has been accused of defrauding investors out of hundreds of millions of dollars. Executives -- including Elizabeth Theranos herself -- will soon face a criminal trial. The company's current CEO wrote an email to shareholders, saying, "We are now out of time."
3. On Monday, Nike's decision to use unsigned NFL quarterback Colin Kaepernick in its latest ad campaign was made public. He's the former NFL player who made headlines for kneeling during the national anthem to protest racism and police brutality in the U.S. In less than 24 hours, Nike received media exposure reportedly worth as much as $43 million, according to Apex Marketing Group. On the other hand, after the ad release, Nike's share price fell by close to 4 percent.
