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Stock impact report

Tokenization Could Solve One Of Corporate Finance's Oldest Problems [Yahoo! Finance]

Intercontinental Exchange Inc. (ICE) 
Last intercontinental exchange inc. earnings: 4/30 07:30 am Check Earnings Report
US:NYSE Investor Relations: ir.theice.com
Company Research Source: Yahoo! Finance
Brick facade of Amazon office building with logo, San Francisco, California, May 27, 2025. (Photo by Smith Collection/Gado/Getty Images) Gado via Getty Images There is something deeply odd about the way we value large companies. Amazon trades as a single security that blends three fundamentally different businesses: a retail operation grinding out thin margins in a brutally competitive market, a cloud infrastructure business that is one of the most profitable enterprises on the planet, and an advertising platform most people don't even realize exists but that generates roughly $50 billion a year. Buy Amazon stock and you get all three, bundled together, with no ability to express a differentiated view on any one of them. The market price is almost certainly wrong for at least two of the three divisions. Possibly all three. This is the conglomerate problem, and it is far older than Amazon. Decades of research document a persistent "conglomerate discount" — diversified firms ty Show less Read more
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