Here’s the Spark that Sent Amazon’s Stock to a Record High
Online mega-retailer Amazon’s (NASDAQ:AMZN) stock reached a record high of $269.30 midday Monday, its highest price since trading for the company began in 1997. News outlets are attributing the peak to Morgan Stanley’s recent comments praising Amazon’s growing network of distribution centers, and his upgrade to overweight from equal-weight, still with a $325 price estimate.
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“Amazon’s fulfillment network is an under appreciated, strategic asset,” writes analyst Scott Devitt. “Companies, such as Amazon.com, that have the ability to decrease variable unit costs in exchange for fixed-costs will have the opportunity to expand margins and take share.”
In other news, Amazon just launched a beta version of Instant Video Finder to simplify user searches and signed a licensing deal with A&E to bring more content to their video-streaming service. They continue to increase inventory and expand shipping networks, and no other global company operates in as many different regions.
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