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Amazon's shares hit and briefly surpassed $1,000 for the first time ever today, per AP. The company is now valued at twice Wal-Mart's worth, and only one other tech company (Priceline Group) trades over $1k.

Expand chart
Data: Money.net; Chart: Andrew Witherspoon / Axios

Why it matters: Amazon and Alphabet (Google's holding company) have been competing to be the first tech giant to reach and pass the $1k share price. Furthermore, Amazon and Wal-Mart have been in a tight race for the top e-commerce spot. In early 2017, Walmart's online sales had increased by 29% from the year before — Amazon's rose just 22%. But now the company's share price and value is higher than these competitors, which could inspire Alphabet to target investors in new ways.

One quick thing: Although there are 14 other companies whose stocks trade past $1k, "Amazon is more than four times more valuable than those other fourteen companies combined," per CNBC.

Go deeper

Updated 2 hours ago - Politics & Policy

Key government agency says Biden transition can formally begin

General Services Administrator Emily Murphy. Photo: Alex Edelman/CNP/Getty Images

General Services Administrator Emily Murphy said in a letter to President-elect Joe Biden on Monday that she has determined the transition from the Trump administration can formally begin.

Why it matters: Murphy, a Trump appointee, had come under fire for delaying the so-called "ascertainment" and withholding the funds and information needed for the transition to begin while Trump's legal challenges played out.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Vaccines: Key information about the effective COVID-19 vaccines — Oxford and AstraZeneca's vaccine won't just go to rich countries.
  2. Health: U.S. coronavirus hospitalizations keep breaking recordsWhy we're numb to 250,000 deaths.
  3. World: England to impose stricter regional systemU.S. hotspots far outpacing Europe's — Portugal to ban domestic travel for national holidays.
  4. Economy: The biggest pandemic labor market drags.
  5. Sports: Coronavirus precautions leave college basketball schedule in flux.

Michigan board certifies Biden's win

Poll workers count absentee ballots in Detroit, Michigan on Nov. 4. Photo: Salwan Georges/The Washington Post via Getty Images

The Michigan Board of State Canvassers certified the state's election results on Monday, making President-elect Joe Biden's win there official and granting him the state's 16 electoral votes.

Why it matters: Republican Party leaders had unsuccessfully appealed to delay the official certification, amid the Trump campaign's failed legal challenges in key swing states.

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