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Links & Takes

by M.G. Siegler


What Amazon’s Rise to No. 1 Says About the Stock Market

Jason Zweig with a sort of surprising (and yet not) stat:

From the beginning of 1926 through the end of last year, only 10 companies have ever ranked No. 1 among all U.S. stocks by market capitalization. Amazon has just become the 11th, succeeding Microsoft Corp. , Apple Inc., Exxon Mobil Corp. , General Electric Co. , Walmart Inc., Altria Group Inc., International Business Machines Corp. , DowDuPont Inc., General Motors Co. and AT&T Inc.
Some, including AT&T and IBM, spent years at the top. Others, including Altria, DuPont and Walmart, were No. 1 for less than a month; Walmart was the biggest U.S. stock for only three days in late 2002, according to the Center for Research in Security Prices, or CRSP, at the University of Chicago’s Booth School of Business.

10 companies in almost 100 years is pretty crazy. But perhaps crazier is that Walmart -- which has produced so many of the world's richest people -- was the biggest of the bunch for just three days.

Barring some sort of regulation, I'm guessing Amazon remains on top (maybe slipping here or there based on stock fluctuations) for a long while.


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