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Amazon Stock Soars Amid Big Tech Rally, Cost-Cutting Review Report

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The Street

By Martin Baccardax Just one day after becoming the first public company to lose $1 trillion in value, Amazon shares are surging on reports of a big cost-cutting review at the world’s largest online retailer. Amazon (AMZN) – Get Free Report shares surged higher Thursday amid a broader rally in big tech stocks and a report from the Wall Street Journal that suggested the online retailer is looking to pare some of its unprofitable businesses. The Journal reported that Amazon, which became the first public company is history to shed more than a $1 trillion in market value earlier this week, will b…

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