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Amazon shares have grown by about 75% year on year, a figure that has crushed competitor’s own growth within the same time period.
The shares of the Seattle based e-commerce giant Amazon.com Inc (NASDAQ: AMZN) closed 0.31% higher on Tuesday following news that the company has revised its work from home policy. Per the news which was first published by Bloomberg, Amazon has asked its workers who are able to do their work from home are now authorized to do so until June 2021.
“We continue to prioritize the health of our employees and follow local government guidance,” an Amazon spokeswoman said in an email statement and added that “employees who work in a role that can effectively be done from home are welcome to do so until June 30, 2021.”
The coronavirus pandemic has not only shaped the digital ecosystem and its adjustment to meet people’s needs, but it has also helped shape the culture of work as corporations around the world continue to embrace flexible work from home policies to keep their workers in safety. In addition to the remote work extension, Amazon noted that it has boosted its safety provisions to ensure that any worker who has to make an appearance in the company’s own work environment is adequately protected.
According to the Amazon spokeswoman, the company “has invested significant funds and resources to keep those who choose to come to the office safe through physical distancing, deep cleaning, temperature checks, and by providing face coverings and hand sanitizer.”
The move by Amazon to extend its work from the home policy has model other Wall Street giants including Twitter Inc (NYSE: TWTR) and Facebook Inc (NASDAQ: FB) to mention a few.
AMZN Shares Have More Potential For Growth
The recent strides of AMZN shares to close 0.31% higher at $3,217.01 have stirred a point of assessment of the stock’s future performance. Amazon shares have grown by about 75% year on year, a figure that has crushed competitor’s own growth within the same time period. The company’s e-commerce business was amongst the biggest gainers with the coronavirus lockdowns as the need for essential goods and services plummeted particularly in the company’s second quarter.
As the Motley Fool analysts profiled the stock, the expectations for further growth is imminent as the company has more innovations to spark and sustain the current growth trajectory. While the stock may be high particularly to the retail investors, the potential of turning a profit is high. The Fool’s analysts noted that despite the huge expectations on the stocks, earnings releases particularly in the past two quarters have always beaten expectations.
With significant investment in Cloud Computing and potential forays into other business units with its ongoing diversification plans as evident in its acquisition of car production startup Zoox, Amazon’s medium and long term outlook appears promising as much as the current positive performance indicates.