29.04.2020 AMAZON Daily Analysis

29.04.2020 AMAZON Daily Analysis

Amazon is set to finish their first quarter on a very strong note and most if not all the analysts on wall street are bullish on the stock. The E-commerce company is set to report its First Quarter earnings on Thursday after the trading session. Of course, the company has been benefiting a lot lately as a result of the lockdown that's been imposed lately. There has been a boost in its e-commerce and cloud businesses. One stock of Amazon is currently trading for $2314.08. However, just when all are on the Amazon Bullish bandwagon one analyst feels the other way. Analyst Scott Mushkin from R5 Capital on a note to investors downgraded the stock from Buy to Sell with the argument that a deep recession is in view and not even Amazon will go unscathed. He slashed his price target to $1987 from $2408 per stock. Amazon is also coming under fire from one senator,  Josh Hawley, from Missouri, who wrote a letter to the Department of Justice to launch a criminal investigation into what he terms as "Amazon trying to create a monopoly by using predatory and exclusionary data practices". The Amazon stock closed at $2314.05 (-61.00)