Last week, shares of Amazon shot up 100 points following news that the online retailer had actually (gasp!) generated a profit during its second fiscal quarter. As a result, Amazon’s market cap, for the first time in history, surpassed that of Walmart’s.
While it remains to be seen how long Amazon’s shares remain at all-time high levels, one newscaster from KTVN Channel 2 in Las Vegas presented a wild theory, on-air no less, attempting to explain how Amazon managed to leapfrog Walmart in terms of overall value. More →