Amazon Market Value Jumps By $16.5 Billion

The 11% surge in Amazon's stock on Friday has boosted the online retailing giant's market value by about $16.5 billion. That increase is more than the total market cap of nearly half the components of the S&P 500. Amazon's stock is up $34.93 in morning trade on the heels of a better-than-expected profit report, and the weighted average number of diluted shares outstanding as of Dec. 31 was 472 million. Chief Executive Jeff Bezos, Amazon's largest shareholder with 83,941,464 shares according to FactSet, is about $2.9 billion richer than he was yesterday.