Shares of Amazon, one of the biggest shopping sites in the United states hit an all time high of $115.84 as customers have started spending again against the backdrop of the recent economic crises. The rally came one day after Amazon reported a 69% surge in third-quarter profit, led by strong sales of the Kindle e-reader and other electronics and general merchandise. "[Amazon] held up better than overall e-commerce and retail during the downturn and it appears to be one of the first to be spring-boarding out of it," said Frederick Moran, an analyst who follows the company for The Benchmark Company.
So since this looks profitable frm the oytlook, it is a good opportunity to invest in Amazon as theya are likely ti have a strong foothold on e-commerce for some time to come
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment