13.03.2020 Amazon Daily Analysis

13.03.2020 Amazon Daily Analysis

Amazon shares fell by a drastic 7.92% which dropped the price value per share at $1,676.71. The company said it was recommending that employees globally work from home this month if they are able to do so, while necessary on-site staff such as warehouse workers would get up to two weeks' pay if quarantined because of the coronavirus. The news follows a decision by the world's largest online retailer earlier this week to extend its work-from-home advisory to include employees in New York and New Jersey as it and other corporations strive to lower the risk of coronavirus transmission among their ranks. Also the e-commerce giant has alleged that Trump exerted "improper pressure" and bias that led the DoD (Department of Defence) to award the Joint Enterprise Defence Infrastructure Cloud (JEDI) contract to Microsoft rather than Amazon and that made the share value decrease more in a matter of 24 hours. Gold prices traded slightly higher than expected earlier today at $1,584.50 an increase of 1.81% from yesterday’s downturn after the ECB statement. Swiss bank UBS Group AG wrote in a Thursday note that it expects a reasonable “breather” for gold, even raising its three-month price target to $1,790 per ounce. However, the bank also predicted a retreat as the global economy starts to recover from the current economic turmoil. The World Health Organization (WHO) declared the COVID-19 novel coronavirus a pandemic on Wednesday. The WHO reported on March 12 that the number of cases has reached 125,288 with 4,614 deaths.