Chart of the Week: Amazon Impresses Wall Street
Amazon continues to enjoy steady growth on Wall Street in the wake of its recent earnings report. Shares of the ecommerce giant were already trading at twice last year’s price when third-quarter earnings were released. When the Q3 numbers far exceeded analysts expectations, shares rose even higher, closing Tuesday at $122.07. By comparison, Amazon closed trading on October 27, 2008 at $49.58 per share.
Net sales rose by 28 percent, due in part to the popularity of Kindle, the company’s wireless reading device.
“Kindle has become the [number] one bestselling item by both unit sales and dollars–not just in our electronics store but across all product categories on Amazon.
“It’s also the most wished for and the most gifted. We are gr…
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Chart of the Week: Amazon Impresses Wall Street
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