Verdi trade union reportedly called for an employee strike during the final shopping days before Christmas at one of Amazon’s crucial logistics centers in Germany in relation with demands of better wages and work conditions.
Amazon shares closed higher for a fourth consecutive trading session on NASDAQ on Monday. The stock went up 0.47% ($8.27) to $1,769.21, after touching an intraday high at $1,769.40, or a price level not seen since December 4th ($1,789.09).
Shares of Amazon.com Inc have risen 17.79% so far in 2019 compared with a 27.31% gain for the benchmark index, S&P 500 (SPX).
In 2018, Amazon’s stock went up 28.43%, thus, it outperformed the S&P 500, which registered a 6.24% loss.
The stoppage at Amazon’s logistics center in Bad Hersfeld was to begin on Monday morning and continue until Saturday evening.
“Verdi wants to use the high-turnover days before Christmas to raise the pressure for collective wage bargaining at Amazon,” the trade union said in a statement during the weekend.
The union also said that Amazon should quadruple Christmas bonuses for its staff from their current level of EUR 400.
The e-commerce giant had said that employee participation in strikes in the past was low and such events caused no operational impact.
“Parcels will arrive punctually since most employees will continue to work on customer orders,” a spokesperson for the company was quoted as saying by Reuters.
“For people in the logistics center, Amazon is undoubtedly one of the best employers,” the person added.
Analyst stock price forecast and recommendation
According to CNN Money, the 45 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $2,180.00, with a high estimate of $2,573.40 and a low estimate of $1,850.00. The median estimate represents a 23.22% upside compared to the closing price of $1,769.21 on December 16th.
The same media also reported that at least 43 out of 49 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 2 – as “Hold”.
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