Possibilities of Amazon growing more after recording it’s all-time best Stock market performance
Hey guys, as an investor in the stock market you would have heard about the major companies. These companies have been performing consistently in 2020 with a decent stock market run. We live in a world where a company’s total annual performance is as it is mirrored to the stock market rates. If you are new to this field, the stock market can be a little tricky for you at first. Amazon is the leading and biggest Retail E-commerce company in the world right now. The Amazon stock price is almost $3200, which is quite high.
You should know that Amazon has been on a roll for months now. As soon as the global pandemic occurred, every company suffered a nonrecoverable loss. Competitors of Amazon also suffered a huge financial hit. In such tough times, Amazon stood up in the market and emerged as one of the profitable companies in 2020. In this years, Amazon reached its peak and recorded the highest Stock rate and also increased in the stock rate.
This was not all for Amazon when the Indian market was also on fire. In October 2020, Amazon hosts a season sale where a huge sum of profit is earned. There was a huge profit in just two days of the sale in the Indian market.
How the pandemic affects the business
You should know that during the ongoing pandemic, Amazon’s profits took nearly a rise of 70%. This number was unexpected because almost every business suffered huge losses due to Covid-19.
Right now, the current cost of an Amazon stock is $3200, which is very high. This price is because of the lack of unsold stock or outstanding stocks. You can expect Amazon to continue with the same figures in the upcoming years. This is because of the expansion moves of Amazon in India and other bigger markets in the world.
In addition to that, Amazon Prime is also a great tool which has heavily contributed to an increase in the stock market rate. Amazon Prime Series is a streaming platform which is competing with Netflix all around the globe. India is a huge market for streaming platforms, and Amazon is an old sport here. Netflix took back one-month free trial, and Amazon took advantage of it.
This has all contributed to the decent share market cost of Amazon, which is next to Apple. You would see an increase in the stock market rate of Amazon NASDAQ AMZN to rise in the future. Therefore, there will not be any fall for Amazon in the stock market in the recent year. We hope that this article will provide you with the necessary information needed. You can check at https://www.webull.com/income-statement/nasdaq-amzn for its income statement if you want to buy amazon stock.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.