Amazon stock rises after huge Cyber Monday sales

Shares of the online mega store "Amazon" rose on Tuesday, lifted by huge sales in yesterday's shopping season Cyber Monday.

Amazon revealed that sales by the companies working through its platform surged 60%during the period from last Friday (Black Friday) until yesterday (Cyber Monday).

The total electronic sales via Amazon platforms rose to $4.8 billion, with 70,000 small and medium-sized companies reporting strong sales.

Amazon confirmed that the season between Friday and Monday saw record sales, the largest ever, due to the coronavirus pandemic that forced many to shop online.

Bearing in mind that Amazon is one the few global companies that have benefited from the coronavirus crisis this year.

As of 16:59 GMT, Amazon's stock (AMZN) rose 0.9% to $3,195.7, after it hit a day high of $3,198.3 and a low of $3,157.1.