July 6th wasn’t exactly one of the best days on the stock market. All major indices, including the S&P 500 and the Nasdaq, pulled back after hitting all-time highs last week. The Amazon share was immune to a bear market (AMZN) – Get the report: in the green for the day and at an all-time high that has not been reached since the beginning of September 2020.
The big news, and the most likely trigger for Amazon’s big profits on a bad day in the markets, was the change in leadership. As of Monday, founder Jeff Bezos is no longer CEO of the company as Andy Jassy takes over the board seat.
(Read more from the Amazon Maven: Amazon share: bobbing through the first half of 2021)
A new era for Amazon
Andy Jassy takes the top position at Amazon with impeccable references. The former CEO of Amazon Web Services helped transform the cloud platform and infrastructure business into a $ 50 billion annual revenue giant that dominates the IaaS market. See table below on …