It is hard to spot sure-fire corporate winners in the latest economic catastrophe. Amazon looks like one.
The giant ecommerce platform, which is benefiting from the closure of so many bricks-and-mortar stores, has seen its global sales surge to $11,000 a second and is scrambling to hire 175,000 employees to cope with the extra demand. Metaphorically speaking, it helps to sell chopsticks when the world wants to eat noodles.
In spite of the stock market collapse, Amazon shares have climbed 30 per cent this year, boosting the company’s market value to $1.2tn.
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