17.04.2020 AMAZON Daily Analysis

17.04.2020 AMAZON Daily Analysis

Amazon is still maintaining record-high stock value. Just Thursday alone saw the stock surge up by a further 4.36% and close at $2408.19. However, Amazon's supply chain has been struggling to cope because of excessive orders and the company went ahead and announced that nonessential items might be delayed in favor of essential materials like food and medical supplies. In a letter to investors, CEO Jeff Bezos said, "Amazonians are working around the clock to get necessary supplies delivered directly to the doorsteps of people who need them". Amazon has also been reshaping its website to "not encourage shoppers to shop more". That shows how high demand is for the E-commerce giant. On the negative Amazon just lost the JEDI contract that it had been eyeing to Microsoft. This means a loss of about $10 Billion in revenue that they were banking on.