COVID-19 Does Not Scarify The Amazon`s Stocks, It Has More Than 8% Increase
The proliferation of Coronavirus, the announcement of quarantine and the imposition of restrictions on movement in most countries have caused tremendous sales increase on Amazon. As a result, the value of Amazon shares (AMZN) rose in early April by 8.44%. Although at the time of writing, stocks fell 0.49%, the recorded growth rate is the highest point for the first quarter of 2020.
Amazon’s (AMZN) stocks price is $2,032.99 today. Analysts note that AMZN stocks are well established in this position, there is a high probability that they will reach a new historic maximum.
Despite the relevance of the online platform in difficult market conditions, Amazon has already received a flurry of criticism. Many people condemn the company because its employees continue to work and are at daily risk of becoming infected with COVID-19. As a result, Amazon management has taken steps to strengthen the protection of the company’s employees against Coronavirus.
In particular, CEO Jeff Bezos made a test visit to the Amazon warehouse. This was announced through a video post posted directly on Amazon’s Twitter page. The video was accompanied by a message of thanks that were addressed to the company employees.
“Today, the founder of Amazon personally inspected the company’s warehouses and outlets. We thank the employees who, during this difficult time, took the blow and continue to work so that millions of people can get the goods.”
Amazon is now confidently entering a bullish phase. An uptrend could be a driver for breaking through the resistance zone that has been holding for the past 3 years. Most analysts estimate that stock prices can rise on average to $2,429.97. The maximum forecast is $27,000.
If the uptrend continues, Amazon stocks may hit historic highs. But now it’s impossible to determine exactly how stable stock growth will be. This is due to the dominance of uncertainty and volatility in the global market due to the spread of Coronavirus.
How does Amazon work in a Coronavirus environment?
The news that several Amazon employees are infected with COVID-19 triggered a surge of discontent and increased demands to close the company’s stores. Amazon employees, worrying about their health and life, held a series of demonstrations.
To calm the panic within the company, Amazon has taken some measures to strengthen the protection of employees from Coronavirus. In particular, the company took care of increasing the number of cleaning in warehouses and other premises. Employees regularly measure temperature, provide face masks. Management also revised employee work schedules