Amazon’s stock surged 1.3% to close at $237.68 on Friday. It reached as high as $240.29 in intraday trading, which was above its Jan. 28 record close of $238.15. There appeared to be some worry among investors about how UPS’s bombshell announcement might impact Amazon’s business.

UPS announced a seismic shift in the relationship with its largest customer, Amazon, prompting a sharp stock price drop Thursday morning. The Georgia-based logistics company will cut the volume it moves for the retailer by more than 50% by the second half 2026,