Amazon Stock Hits Record as Business Expands

Amazon Stocks Hit Record High

Despite posting a net loss for the second quarter of 2013, Amazon’s stock reached a new high point of $313.62, on Friday, and closed at $311.70, an increase of 2.7 percent.

The rise was fueled by fast expansion at home with profits in its domestic market also heading up.

“Their biggest market looks really healthy,” said Matt Nemer, an analyst at Wells Fargo.

Amazon is a giant on-line retailer which is in the midst of a re-make, trying to sell technology-based products such as tablets and cloud computing services to large corporations and even political entities, such as governments. It is making this change-over while simultaneously growing their overseas market in such places as China.

So far Amazon has spent billions on this new look which eats into earnings.  Never mind say investors, trusting the direction that chief Executive and Founder Jeff Bezos is taking them. They are confident that Bezos can pull it off and they will reap big future profits. Investor confidence is what is propelling Amazon’s stock to continue its upward climb.

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About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]businessdistrict.com