AMZN stock had a quite disappointing week but today it is in green again. Amazon is expected to release the Q2 earnings report on July 23 and analysts anticipate it as a catalyst to a new wave.Being one of COVID-19 stock market leaders, Amazon.com Inc (NASDAQ: AMZN) stock is much followed by investors globally. Last week the shares experienced their worst continuous losing period for the past 10 or so weeks. Meanwhile, it has become known that online brokerage company Robinhood reported an influx of traders investing in Amazon shares. Last week a surprisingly large number of traders were interested in AMZN stock, partially probably due to the drop in its price.As of Friday, July 17, the share had lost around 5% in the past week after closing the day trading at 61.97. However, today they
Topics:
<title> considers the following as important:
This could be interesting, too:
Chayanika Deka writes Ohio Follows Pennsylvania, Texas in Pursuing State-Level Bitcoin Reserves
Emily John writes Matrixport Predicts Ethereum Boom Driving 2025 Crypto Surge
Felix Mollen writes New Solana Layer 2 Project, Solaxy, Raises Million in First Week of Presale
Felix Mollen writes Dogecoin, Dogwifhat Prices Slide But Some Experts Tip Crypto All-Stars as Next Meme Coin to Explode
AMZN stock had a quite disappointing week but today it is in green again. Amazon is expected to release the Q2 earnings report on July 23 and analysts anticipate it as a catalyst to a new wave.
Being one of COVID-19 stock market leaders, Amazon.com Inc (NASDAQ: AMZN) stock is much followed by investors globally. Last week the shares experienced their worst continuous losing period for the past 10 or so weeks. Meanwhile, it has become known that online brokerage company Robinhood reported an influx of traders investing in Amazon shares. Last week a surprisingly large number of traders were interested in AMZN stock, partially probably due to the drop in its price.
As of Friday, July 17, the share had lost around 5% in the past week after closing the day trading at $2961.97. However, today they rebounded from the loss in the pre-market after adding around $44 to trade around $3,006. At the time of writing, as teh market opened, AMZN stock is 2.91% up, at $3,048.28.
As long as coronavirus continues keeping the economy in a state of siege, Amazon sales will continue spiking up by the day. This will, therefore, reciprocate to investors gaining more interest in its shares, which will raise its demand.
The outcome of such a scenario will be a stock market rally fueled by increased demand for its shares.
Amazon (AMZN) Stock Prospects, Will It Be Boosted by Interest from Robinhood Traders?
The $1.48 trillion cap company is well-positioned to reap hugely from the coronavirus pandemic. Further analysis of its shares indicates they have been up 49.17% in the past one year, up 60.29% year to date, added 23.74% in the past three months, and up 9.24% in the past one month.
The parabolic rise is highly attributed to the increasing demand for its online delivery of groceries and other products across North America and where its services are offered globally.
In addition, the company has been investing its capital in acquiring existing online delivery startups like Deliveroo from the UK. The diversification will significantly help in cushioning its revenues even when the market stabilizes post-COVID-19.
This has largely contributed to investors’ confidence and most hedge funds managers betting more returns from the company in the near future.
“Amazon stands as a primary beneficiary of the shift in consumer shopping behavior stemming from the pandemic. The slower than previously expected re-opening of the economy is positive for Amazon’s competitive positioning versus traditional retail and increases the likelihood recent changes in consumer behavior are permanent,” said Scott Devitt, an analyst with Stifel.
According to Devitt, Amazon is expected to report 2Q20 revenue of $80.9 billion, a year-over-year increase of 28%, which is in line with the high end of Amazon’s guidance ($75.0 billion -$81.0 billion) and also reflects investors expectations.
“The outlook for 3Q margin may potentially be weaker than current expectations as investment may impact near-term cost structure,” Devitt concluded.
Other updates from the stock markets you can find following the link.
A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."