Amazon Just Beat Oil Giant Exxon Mobil In A Major Way

Amazon on Monday became the world’s fourth-most valuable company by market capitalization, usurping scandal-struck oil giant Exxon Mobil.

The internet giant’s stock price rose by just over 1 percent, bringing its value up to about $366 billion. Hobbled by plummeting oil prices, shares of the world’s biggest oil company fell by more than 2 percent, dragging their total value down to about $356 billion.