Since 2017, Jeff Bezos has been selling $1 billion in Amazon shares every year in order to fund his Blue Origin space project. The transactions are a part of a prearranged 10b5-1 trading plan which provides an affirmative defense to insider trading.
E-commerce giant Amazon reported stellar numbers in sales led by the pandemic-struck demand in online shopping. The company also reported a strong surge in its cloud computing business and Amazon Prime Video demand.
Amazon is now actively seeking a way to obliterate challenges associated with online shopping, particularly in the fashion industry.
In partnership with Acko General Insurance, Amazon has decided to start selling auto insurance in India. AMZN stock went up in the pre-market today.
Amazon has revealed a delay in its annual Prime Day sales. It will however hold the event for Prime subscribers in India in August. Meanwhile, AMZN stock managed to gain almost 8% yesterday and is up now.
AMZN stock had a quite disappointing week but today it is in green again. Amazon is expected to release the Q2 earnings report on July 23 and analysts anticipate it as a catalyst to a new wave.
Amazon’s performance in today’s pre-market further solidifies its bid to surmount other companies as the world’s most valuable brand.
Amazon.com (AMZN) stock closed yesterday at $3,182.63, which was a rise of 3.29%. According to experts, the shares could hit $3,500 by the next earnings season.
Alphabet was the latest to re-enter the $1 trillion club, reaching a $1.02 market cap on June 6. GOOGL stock added 2.02% yesterday to close at $1,499.65 but slightly declined to $1,495.05 per share in the pre-market today.
Amazon (AMZN) stock is trading at over $3,000 now. Analysts say that the stock has enough power to move even higher soon.