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Busy week for Amazon ends with record close for stock

By Wire services
Published: March 31, 2017, 4:34pm

SEATTLE — Amazon.com’s market value has climbed $23 billion this week in the wake of positive analyst reports that point to continued growth for the world’s dominant online retailer.

Amazon shares closed up 1.2 percent at a record $886.54 Friday, and were up 5.8 percent from Monday’s opening price.

Amazon, the fourth-largest publicly traded company, is now worth about $423 billion.

The rise in market valuation caps a busy week for the company, which on Tuesday won a bidding war for Souq.com, a large e-commerce company based in Dubai and focused on the Arab world.

The same day it opened two grocery pick-up locations in Seattle. And on Wednesday Amazon closed Quidsi, a former rival it had acquired in 2011 but failed to turn profitable.

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