For those who bought Amazon stock way back when, it might have turned out to be one of the the best investment they ever made. According to MarketWatch, as of April 20, Amazon stock is up 20 percent for the year, and the online retail giant could eclipse the $1 trillion mark in the near future.
“I think Amazon is going to say to a series of households, ‘Tell you what: You don’t need any other retailer. We’re it,’” Scott Galloway, the founder of marketing company L2 and an NYU professor, told the business trade publication. He continued: “The company is going to announce that those households are going to quintuple or sextuple in purchase volume, and the stock’s going to become the first $1 trillion market cap company in the history of business.”
Everything about Amazon is incredibly hot right now. Last month, it was announced that founder Jeff Bezos had become the second richest man in the world after the company acquired Souq.com.
Below, watch a video where Bezos discusses his management style and philosophy.