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Amazon is at a critical time currently due to the coronavirus as it has hit some of the firm’s warehouse with staff testing positive. Amazon (AMZN) stock price is very unstable these days.
As novel coronavirus continues to bit deep into the global economy, Amazon.com Inc (NASDAQ: AMZN) stock was dwindling plunging on Wednesday to begin rising again on Thursday, 2nd April. Now it is 0.89% up and is trading at $1,920.20.
Apart from Amazon (AMZN) stock, the firm itself is at a critical time currently due to coronavirus as it has hit some of the firm’s warehouse with staff testing positive to the deadly respiratory disease. This event prompted some New York legislators alongside top unions and Amazon staff to swing into action.
The N.Y. legislators and unions sent a letter to Jeff Bezos, requesting that he puts in place more protection for workers at the warehouse who continue to come to work during the pandemic.
The lawmakers said to be 45 in number, advocacy group, Amazon Employees for Climate Justice and several unions, including AFL-CIO and the Service Employees International Union, called on Bezos to protect these sets of workers better.
“You claim to have adopted several practices to sanitize worksites and protect workers,” the letter says. “But a compelling number of workers have come forward – and even run the incredible personal risk of walking off the job – to report that the actual situation in warehouses does not match Amazon’s public relations statements. Your workers deserve to have full protections and to be confident that they are not carrying COVID-19 home to their families.”
According to the employees’ spokesperson, the safety of the team should be a priority as nothing is more important. “Since the early days of this situation, we have worked closely with health authorities to proactively respond, ensuring we continue to serve customers while taking care of our associates and teams,” the spokesperson said.
Amazon, on the other hand, said that it had done the needful in keeping facilities safe and clean as they also ensure that these staff follow necessary safety precautions like washing their hands, using sanitizers, practice social distancing, etc.
Furthermore, Amazon said they are consulting with health authorities and medical experts on ways they could enclose their buildings for deep cleaning in case any other staff tests positive. The group said it supports Amazon workers’ calls for the company to close warehouses after they report cases of the coronavirus.
By and large, Amazon has been pressured on several fronts to look and address issues regarding employees’ safety in warehouses where they operate.
Dwindling Amazon (AMZN) Stock
Amazon (AMZN) stock as at press time is on an upward move soaring by 0.89%. Largely blaming the coronavirus pandemic that has affected the share of several other firms, Amazon stock has also been hit relatively.
Before soaring to be trading at $1,920.20 today, the stock closed on Wednesday at $1,907.70 and opened the market at $1,901.64.
For specific reasons, Amazon stock is one of the best buy in and has been a long term excellent performer. Amazon stock in the last decade has hiked by 1,340%, seven times note than S&P 500‘s 176% return over this period.