Amazon.com, Inc. (NASDAQ : AMZN)
Amazon.com, Inc. (AMZN), an online retail company announced a record setting holiday season for Amazon Prime, Amazon Original Series, and Amazon Devices. Amazon had a record number of shipped units with Amazon Prime this holiday season. Amazon, which has started creating their own media content, enjoyed huge success with their original series The Man in the High Castle. It was the most viewed TV season on their prime video by 4.5 times. Amazon also reported their biggest holiday sales for Amazon Devices, reaching more than 2 times last year’s record setting holiday season.
Amazon.com, Inc. CEO’s Comments
“This was another great holiday season to be a Prime member, and we welcomed three million new members in the third week of December alone,” said Jeff Bezos, Founder and CEO of Amazon.com. “Over 200 million more items shipped for free with Prime this holiday, and members doubled their viewing hours of Prime Video compared to last year with the Amazon Original Series The Man in the High Castle leading the way as the most watched TV season ever on Prime Video. On behalf of Amazon employees around the world, we wish everyone happy holidays and the very best for the coming year.” Business Wire
AMZN Technical Analysis
AMZN gapped up in price yesterday to $678, up from the prior day’s close of $675.20, which is a 1% increase on favorable news. Taking a look at the daily chart, we can see the last time AMZN traded above this price level was on December 1st when it traded at $679.06. Taking a closer look at the daily chart we can see that AMZN has been on an overall upswing dating back to June 8th when it traded at $429.70. AMZN is very close to its 52 week high price of $684.82 which it reached on December 2nd. Stocks tend to shoot through the 52 week high price when driven by a strong catalyst. That is exactly what I would expect to happen with AMZN. AMZN has a float of 384.26 million shares and is trading right at the normal daily trading volume. AMZN did reach pre market highs of $679.23, but gave back $1.23 at the open. For trading purposes, my entry point would have been $678.25 looking for a run to $685. My stop loss would have been $677.75, fearing anything below that and the stock would start to fill in the gap.
Amazon.com, Inc. operates as an online retailer in North America and internationally. It operates through the North America, International, and Amazon Web Services (AWS) segments. The company serves consumers through retail websites, such as amazon.com, amazon.ca, and amazon.com.mx, which primarily include merchandise and content purchased for resale from vendors and those offered by third-party sellers. It also offers programs that enable sellers to sell their products on company’s websites, and their own branded websites; and programs, which allow authors, musicians, filmmakers, app developers, and others to publish and sell content. In addition, the company serves developers and enterprises through AWS that provides compute, storage, database, analytics, applications, and deployment services in start-ups, enterprises, government agencies, and academic institutions. Further, it manufactures and sells electronic devices, including Kindle e-readers, fire tablets, fire TVs, echo, and fire phones; and provides Kindle Direct Publishing, an online platform that allows independent authors and publishers to make their books available in the Kindle Store. Additionally, the company offers Amazon Prime, an annual membership program, which provides free shipping of various items; access to instant streaming of movies and TV episodes; and access to books to borrow and read on a Kindle device, as well as provides publishing, digital content subscriptions, and advertising services; and co-branded credit card agreements. Amazon.com, Inc. was founded in 1994 and is headquartered in Seattle, Washington. Yahoo Finance