Amazon.com Inc (NASDAQ:AMZN)
Amazon.com News & Technicals
On Wednesday before the market opened, Amazon.com Inc (AMZN) announced that they will be introducing a new product line called The Mark Cuban Collection on Amazon Exclusives which will allow customers to gain access to new products from up-and-coming brands such as products from the popular TV show Shark Tank. This is great news from the giant online retailer that will help further their niche in unique items they can sell to their giant client base. Currently analysts have an average price target of $807.47.
Looking at the daily chart you will see that shares are on the verge of pushing new highs for the second time in that past couple weeks. With news highs on the horizon look for resistance to come in at whole numbers like $725 and $730 while support will be met at $720 followed by $700. Shares are currently trading well above their 200-day moving average that is sitting at $597.84 and their 50-day moving average at $643.31. Shares have been on a rampage after bouncing off the $480 level back in February and haven’t looked back since. I would expect this stock to keep trending north and until it gets back below its 9 and 20 moving averages expect it to remain strong.
Comments Regarding Products
“Amazon is the best in the world in online transactions,” said Mark Cuban, investor and entrepreneur. “Smart curation and product discovery is something Amazon does very well. The Amazon Exclusives program exposes brands to new customers and handles much of the logistics. That back-end support is critical for companies that want to grow.”
“At Amazon Exclusives, customers can easily find new brands that have chosen to quickly bring their hot items directly to Amazon,” said Kyle Walker, Category Leader for Amazon Exclusives. “Many of the items in The Mark Cuban Collection have created a buzz on TV and built customer demand before they are even available. We want to give customers access to these must-have new items.”
AMZN Profile
Amazon.com, Inc. engages in the retail sale of consumer products in North America and internationally. It operates through the North America, International, and Amazon Web Services (AWS) segments. The company sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk. It also manufactures and sells electronic devices, including kindle e-readers, fire tablets, fire TVs, and echo, as well as fire phones; and provides Kindle Direct Publishing, an online platform that allows independent authors and publishers to make their books available in the Kindle Store.
In addition, the company offers programs that enable sellers to sell their products on its Websites, as well as their own branded Websites; and programs that allow authors, musicians, filmmakers, app developers, and others to publish and sell content. Further, it offers compute, storage, database, and other AWS services, as well as fulfillment, publishing, digital content subscriptions, advertising, and co-branded credit card agreements services. Additionally, the company offers Amazon Prime, an annual membership program, which provides free shipping of various items; access to unlimited streaming of movies and TV episodes; and other services. It serves consumers, sellers, developers, enterprises, and content creators. The company was founded in 1994 and is headquartered in Seattle, Washington.