The world was taken to a storm by China as Wuhan recorded a deadly virus which soon got into every country. It’s been ten months, and we are still under a panic situation. Lockdowns were imposed in every country, and nobody was supposed to leave their house. In this case, every business suffered huge losses which resulted in recessions, firings of employees and losses to big firms. Small to large every business unit was affected due to the lockdown and losses were high.
In this case, the stock market was affected. Amazon is the biggest retail e-commerce company in the world. Being a retail unit, losses were suffered at first. Amazon bounced back and became the most profitable company all over the globe. There are many reasons behind this which should be known to you as an intending investor. Investing in the stock market during a pandemic is a tough decision, but Amazon made it look easier.
Amazon’s performance during the pandemic
When this pandemic was approaching, the lockdown was in talks in many countries. Amazon has bug set-ups in many major countries like the USA and India. Millions of customers in India and the USA cost Amazon to continue its services when rules loosened up. Initially, Amazon’s stocks also suffered a loss and billions were lost in days. People started realising that things which are of basic necessity are available on Amazon. This boosted the sales and functionality of Amazon, and the dream run was about to start. Amazon recently overshadowed Walmart and become the biggest retail e-commerce unit all over the globe.
During this panic situation, market stocks of Amazon also boosted up dye to exceptional performance. In this case, lost investors also returned to Amazon to gain profits. Amazon also boosted its stock market Rates due to a 40% increase in profit. Due to this, market rates of Amazon’s stocks also increased. Amazon’s major business is retail e-commerce which started blooming in the market. In 2020, Amazon recorded its highest jump in 25 years in this global pandemic.
In this case, Amazon is the best performing Company which has been receiving higher stock rates. Global covid-19 pandemic didn’t affect the functioning of Amazon. Therefore, as an intending investor, you should check out Amazon’s market stock rates NASDAQ AMZN. In addition to that, stock market rates will also raise in the latter part of the year due to its yearly sale is approaching in one of the biggest markets in the world, which is India.
This is how Amazon performed in such a global pandemic situation. You can check more information like income statement at https://www.webull.com/income-statement/nasdaq-amzn.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.