Amazon.com Inc
Over one billion items were purchased by shoppers on the website, with half of them coming from independent sellers.
This impressive figure showcases both Amazon's extensive reach and the crucial role that independent sellers play in the Amazon ecosystem.
Amazon's financial performance after Black Friday reflected the success of its sales event. The company's shares rose by almost 2%, nearing the $150 mark.
After the initial surge, Amazon shares experienced a 1.40% decline. The belief that positive sales reports automatically result in higher stock prices is a common misconception.
Although there may be a brief surge in buying immediately following such reports, the relationship between sales and stock prices is not always straightforward or long-lasting.
Amazon's stock, for example, has been experiencing fluctuations and remaining relatively stagnant, despite its impressive sales records.
The stock price is currently at a support level of $142, which aligns with the daily 20 simple moving average. This level is important for investors as it often signals a potential pivot point.
If this support remains strong, there is a high likelihood that the stock will rally from this point and begin an upward trend.
In order to achieve a strong recovery, Amazon's stock must surpass the $150 mark, which is considered a significant resistance level. Breaking through this barrier is essential for the stock to establish a new trading range.
Despite recent fluctuations, it is important to keep the bigger picture in mind. Amazon's stock has shown an impressive 69% increase this year and closed with a 9% gain in November. These strong performance indicators suggest positive momentum overall.
With this in mind, it appears likely that Amazon's stock will continue its upward trajectory over the long term.
After the closing bell on Friday, December 1, the stock closed at $147.03, trading up by 0.69%.
