Amazon’s stock price (AMZN) traded 8.44% today more than four months ago. The company saw an increase in operations in the midst of the coronavirus crisis, prompting executives to take more measures to protect employees from the coronavirus.
The title Amazon.com Inc (NASDAQ: AMZN) was one of the winning titles, defying the gravitational pull of the COVID-19 crisis. As of this writing, the stock price is down 0.49%. But it is still more than 8% more than four months ago. Negotiating at $ 2,032.99 and showing a lot of strength to push even higher, which will make it possible to retest the all-time record and beyond.
The increase in sales and in the value of the company’s shares comes at a price, as the company has received numerous criticisms of the way it manages the employees who continue to work in the midst of coronaviruses.
The cry was loud enough that CEO Jeff Bezos was asked to make an impromptu visit to the warehouse and a grocery store. Bezos was caught in a video posted on Twitter by Amazon News.
Visits today by our founder and CEO @Jeff Bezos to thank the Amazon distribution center and the Whole Foods employees. We are all incredibly proud of the thousands of our colleagues who are working on the front lines to get essential goods to people everywhere during this crisis. pic.twitter.com/dygb345wDM
– Amazon News (@amazonnews) April 9, 2020
However, 42 analyst notes are on the views, strong buy. In the same category, there are no sales plans, the least of which is a catch. Due to the strong signal, the analyst’s average price target is $ 2,429.97, with the highest forecast being $ 27,000 and the lowest forecast being $ 2,150.
From a technical point of view, the bulls control the ring with a higher percentage calling for an increase. The bullish channel is well respected, the price currently retesting the resistance zone of the last three years.
If all the fundamentals continue to go well for the company as they have been, the market price will reach a very high speed to reach a record level. However, due to the unpredictable nature of the coronavirus we are facing at this time, there can be no assurance that this increase will continue.
Volatility along the way will be high as investor panic will continue to dominate the market price
Amazon and its employees in the midst of the COVID-19 crisis
Last week, Amazon workers from Staten Island, Detroit, New York and Illinois protested asking the company to close the stores after some colleagues tested positive for the virus. However, the company downplayed the protests, claiming that only a few employees participated.
To reassure workers, Amazon has announced several measures to be implemented to protect employees. First of all, the company increased the frequency and also the intensity of the cleaning of its installations. In addition, workers must go to their work station twice per shift.
Second, the company started taking employee temperatures at the time of the report. In addition, the company has grown and provided employees with face masks.
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