Cyber Monday was a good day for Amazon investors, as shares of the Seattle-based retailer rose 6.44 percent to $194.15.
Amazon reported Monday that Kindle sales for this year's Black Friday quadrupled from last year. Furthermore, Amazon benefited from a strong Cyber Monday, as online retail sales shot up 20 percent from a year ago as of 12 p.m., according to IBM Research.
But despite the hype around online shopping, Amazon stock has struggled as of late. Shares reached their 52-week high of $246.71 in the middle of October before falling to $182.40 as of Friday's close.The company's third-quarter earnings were also below Wall Street's expectations and analysts expect the retailer will, in the short term, lose as much as $50 for each Kindle Fire sold.
Still, Amazon's low-price tablet may put a dent in Apple's dominance in the tablet market. The cost of a Kindle Fire is less than half of an iPad. Furthermore, Amazon should be able to regain its money once Kindle users purchase content.
Apple didn't have a sluggish day either. Shares of the Cupertino, Calif.-based company rose 3.45 percent to $376.12. Apple was the fifth-most visited online retail store behind Amazon, Wal-Mart, Best Buy and Target on Black Friday, and sales totals smashed internal company benchmarks.
Another big mover in the online retail market was eBay, which rose 5.07 percent to $29.66. Retailers that also posted solid gains based on their online sales included Macy's, which rose 4.72 percent to $30.84, and Best Buy, which was up 3.36 percent to $26.49.
Not everyone involved in holiday shopping saw stock market gains. Although daily deals site Groupon jumped on the holiday shopping season bandwagon this year, shares of the company fell once again Monday to $15.24, down 9.01 percent.