Amazon Inc (AMZN) closed at its all time high at $703.7 on Tuesday. This is the first time Amazon Inc. has crossed the $700 mark. It previously closed at $679.75 and overnight saw a 2% increase and went up to $694.

On Tuesday, Amazon announced a YouTube competitor called Amazon Video Direct. According to the company, Amazon Video Direct is “a new self-service program for creators and storytellers to make their video content available to Amazon customers, including tens of millions of Prime members.” This announcement has also contributed to the rise of their stock price.

After this announcement, it was observed that the stock price for Alphabet Inc., which owns YouTube (GOOG) had gone down by 0.5%.

Their strategies and the rapid increasing of their stock price which has gone up by almost 40% in the last 3 months has led researchers to believe that the $1000 mark might be possible for them to achieve. They are constantly coming up with new idea and are finding places to invest their money in.

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Many researchers and market analysts believe that the key to reaching the $1000 mark would be stock splitting. The splitting of stocks would not only allow investors with fewer capitals to invest as not everyone can invest in a 700$ stock, but it would also make rapid advancements in the increase of the company’s stock price. It might be mathematically identical for a $7000 stock to go up to $1400 and a $150 stock to go up to $300. But practically, the latter is much more likely to happen. It would not only helps the company achieve that $1000 mark, but also increase a stock’s liquidity by making it attractive to a wider field of investors.

Over the last couple of weeks, the Amazon stocks were largely traded. On 29th April, their trade volume exceeded 10 million and was reported to be one of the highest in the market that day.

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Amazon last month reported Q1 results that beat analysts’ expectations. The Seattle-headquartered company had net sales of $29.1 billion in the first quarter, up 28% and surpassing forecasts of $27.99 billion. Earnings per share were $1.07, blowing past expectations of 58 cents per share.