Amazon Stock Touches $1,000 For The First Time Ever

By Mark DeCambreMarketsMarketWatch Pulse

Shares of Amazon Inc. on Tuesday hit an intraday record, exceeding $1,000 a share for the first time ever and joining a unique club of companies whose stock carries a four-digit price tag. Amazon shares hit $1,001.20, just near the open of Tuesday trade. Amazon's shares are up about 33% so far in 2017, according to FactSet data. The technology behemoth run by Jeff Bezos, which boasts a market value of roughly $480 billion, joins a rare $1,000-a-share club, which includes names like Berkshire Hathaway , Priceline Group Inc. and homebuilder NVR Inc. . Moves in Amazon's stock came as the Nasdaq Composite Index was tilting higher in early trade, on track for a record. Meanwhile, the Dow Jones Industrial Average and the S&P 500 index were trading near break-even levels, but have broadly been in an uptrend, following Friday's record close for the S&P 500 and the Nasdaq. U.S. markets were closed on Monday in observance of Memorial Day.

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