By
Chimamanda U. Martha
March 11th, 2024
It is reported that Amazon workers from German cities of Leipzig, Bad Hersfeld, Rheinberg, Werne, Graben and Koblenz are due to take part in the strike.
Amazon.com Inc (NASDAQ: AMZN) stock is facing possible volatility during its annual Amazon Prime Day. This is primarily because an unknown number of Amazon employees in Germany have taken to the streets demanding better pay, better working conditions and respect at work.
AMZN stocks closed yesterday trading at $3443.63 and were 0.44% up during Wednesday’s premarket. Notably, Amazon stocks were $100 shy of their all-time high, after rallying over 86% year to date. Apparently, amazon investors have been among the top during the pandemic fueled by the increased sales and increased demand in Amazon services globally.
Amazon stock climbed 14.45%, 11.88%, and 7.76% in the past three months, one month and five days respectively. The company had a market capitalization of around $1.72 trillion with 500.89 million outstanding shares. After Amazon shares were critically analyzed by 48 credible experts, they received an average of a Buy rating.
This is a strong indication that the amazon shares will surpass the all-time high and reach a new ATH in the coming quarters. The company still faces fierce competition from different companies including Walmart Inc (NYSE: WMT) and also eBay Inc (NASDAQ: EBAY).
Amazon amid the Coronavirus Pandemic in Germany and Other Countries
During the pandemic, Amazon has been criticized and at the same time hailed for the way it has handled its employees in regards to the coronavirus crisis.
Several strikes have happened during the pandemic including in different American states. However, its management led by CEO Jeff Bezos has denied allegations of employees lacking proper support, especially with protective gear.
The disagreements have caused some of the top management team members to quit their jobs. Notably, the company has provided essential services that have helped most people comfortably stay at home during the pandemic. During the past quarterly reporting, Amazon has announced that it plans to put more cash into purchasing protective gear for its employees and creating an environment that is safe for all. Some of them include regular checkups and temperature recording for all employees, besides thorough cleanup of the workstations to ensure coronavirus-free areas.
However, all these measures have not prevented the Amazon employees in Germany from disrupting the company’s busiest annual day, Amazon Prime Day, by organizing a strike. The employees through the Ver.di union are demanding better pay, better working conditions and more respect.
It is reported that Amazon workers from German cities of Leipzig, Bad Hersfeld, Rheinberg, Werne, Graben and Koblenz are due to take part in the strike. As usual, an Amazon spokesperson slammed the demand by indicating that amazon employees are well paid and work in a healthy and fun environment.
Hereby, Amazon stocks are expected to increase volatility during its annual Amazon Prime Day due to mixed investors’ reactions.