CIBC Snaps Up Millions of Amazon Shares Worth Over $700 Million
CIBC World Market Inc., a global financial institution, has made significant investments in Amazon.com, Inc. (NASDAQ:AMZN) stock, acquiring 2,981,991 shares valued at approximately $710,728,000 in its second-quarter portfolio update.
This acquisition represents about 1.1% of CIBC World Market's investment portfolio and ranks AMZN as the company's 20th largest holding.