Amazon.com (NASDAQ: AMZN) traded at 262.65 in Monday afternoon trading, +12.65,
or +5.06%, from its previous close of $250.00. Shareholders assessing their
portfolio’s financial
fitness welcomed the sharp uptick. The move put AMZN near its session high
as analysts and traders focused on Amazon Web Services, artificial intelligence
demand, and the next earnings report.
Stock reclaims ground
Shares opened at $254.02 and touched that same level for the day’s low. The
stock later reached $263.44, leaving it within a dollar of the high in afternoon
trading.
The rebound followed a Friday close at $250.00, when no company-specific trigger
was reported. Recent selling was tied to a broader Wall Street pullback led by
big technology shares and chipmakers.
Analyst call lifts sentiment
Morgan Stanley analyst Brian Nowak maintained…