Winner and Loser: Amazon Market Value Tops $1tn and Theranos Is to Close

352

Amazon has become the second US company to have a market value of more than $1 trillion. At the same time, Theranos announced its closing. 

Read the details on Nexter.org.

Once a winner, always a winner

Source: Getty Images

Amazon has briefly become the second US-based company to be $1 trillion-worth company. Its shares rose to $2,050.50 making it $1 trillion in market value. However, it hadn’t lasted for long as at the end of the day its shares fell to $2,039.51.

was the first one to tops $1tn market value at the end of July 2018.

apple-stock-chart-pic

Source: TechCrunch

is worth now over $1 trillion in market capitalization. Following this week’s earnings release, shares were $207.05, which values the company slightly over $1 trillion based on the most recent share count, TechCrunch reports.

managed to increase its capitalization and the selling price thanks to the iPhone X release. iPhone sales grew by 1 percent, but revenue increased by 20%.

Once a loser, always a loser

Source: Business Insider

Theranos is closing up shop, The Wall Street Journal reported. It’s to repay creditors with its remaining resources and the founder, Elizabeth Holmes will face criminal charges.

Recently, she was looking for investors for a new startup. “According to Carreyrou [the journalist who revealed that the company is a sham and author of Bad Blood: Secrets and Lies in a Silicon Valley Startup], Holmes is currently waltzing around Silicon Valley, meeting with investors, hoping to raise money for an entirely new start-up idea,” Vanity Fair reports.

John Carreyrou also adds, “One person in particular, who left the company recently, says that she has a deeply ingrained sense of martyrdom. She sees herself as sort of a Joan of Arc who is being persecuted.” The question is who’s going to say “yes” and agree to invest in her new startup.

Before that, with a permission from her parents, Elizabeth Holmes invested the money for her education in private business. The company was named ‘Theranos’ and after some period of time announced a breakthrough in the field of blood analysis.

Source: Theranos

Representatives of the company claimed that the invented method allows analyzing the blood using only six drops of it. Sponsors quickly responded to the offer and invested money.

According to data provided by the Securities and Exchange Commission, Theranos deliberately misled investors by providing false and inaccurate data. In addition to a $500,000 fine, Elizabeth Holmes also lost control of the company she founded.

However, while she couldn’t be the CEO of a public company for 10 years, she was still allowed to be the CEO of a privately held company.


MORE HOT NEWS

Summary
Ups and Downs: Amazon Market Value Tops $1tn and Theranos Is to Close - Success VS Failure
Article Name
Ups and Downs: Amazon Market Value Tops $1tn and Theranos Is to Close - Success VS Failure
Description
Amazon has become the second US company to have a market value of more than $1 trillion. At the same time, Theranos announced its closing. 
Nexter.org
Nexter.org
Nexter.org
/wp-content/uploads/2018/04/logo_nexterbg.jpg

Comments are closed.

More News from Nexter