Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

According to a report by German newspaper Welt am Sonntag over the weekend, Amazon.com Inc (AMZN) intends to open stores in Germany, its second largest market after the United States.

However, no specific details or a timetable were provided.

Amazon shares closed higher for the sixth time in the past ten trading sessions on NASDAQ on Monday. It has also been the sharpest daily surge since January 2nd. The stock went up 1.49% ($27.91) to $1,902.88, after touching an intraday high at $1,903.00, or a price level not seen since July 30th ($1,909.89).

Shares of Amazon.com Inc have risen 2.98% so far in 2020 compared with a 0.48% gain for the benchmark index, S&P 500 (SPX).

In 2019, Amazon’s stock went up 23.03%, thus, it underperformed the S&P 500, which registered a 28.88% gain.

“The fact is that we know that customers shop offline and that they like variety,” Ralf Kleber, Amazon’s head for Germany, said in an interview with Welt am Sonntag newspaper.

The company already operates stores in the United States and the United Kingdom, which also include the Whole Foods grocery chain and checkout-free Amazon Go food stores.

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 14.56% upside compared to the closing price of $1,902.88 on January 6th.

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”.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Grain futures edge higher on weather outlookGrain futures edge higher on weather outlook Grain futures rose during European trading on Monday with corn hovering near Fridays three-year low on expectations U.S. supplies will be bigger than USDAs estimates, while soybeans and wheat posted moderate gains amid mixed weather across the […]
  • Forex Market: GBP/USD daily forecastForex Market: GBP/USD daily forecast During Friday’s trading session GBP/USD traded within the range of 1.7037-1.7118 and closed at 1.7088.At 6:58 GMT today GBP/USD was losing 0.01% for the day to trade at 1.7086. The pair touched a daily low at 1.7082 at 00:45 […]
  • Forex Market: USD/JPY trades not far from 23 1/2-year peak on Fed-BoJ monetary policy divergenceForex Market: USD/JPY trades not far from 23 1/2-year peak on Fed-BoJ monetary policy divergence USD/JPY traded not far from last week's 23 1/2-year high of 135.59 on Monday, as central bank monetary policy divergence between Japan and the United States became more evident.In light of last week's massive monetary policy tightening […]
  • Gold advances ahead of US employment data, Fed taperingGold advances ahead of US employment data, Fed tapering Gold advanced on Friday, ahead of the release of US jobs data as investors assessed the outlook for physical demand against speculation the Fed may scale back its stimulus program further. A stronger dollar put some pressure on the yellow […]
  • USD/JPY advanced after Fed minutesUSD/JPY advanced after Fed minutes US dollar reached a one-week high against the Japanese yen on Thursday, after the release of minutes of Feds most recent meeting, while at the same time, Chinese manufacturing PMI rose more than anticipated in August.USD/JPY climbed to a […]
  • Forex Market: USD/CAD daily trading outlookForex Market: USD/CAD daily trading outlook Yesterday’s trade saw USD/CAD within the range of 1.3669-1.3767. The pair closed at 1.3729, shedding 0.03% on a daily basis and extending the loss from Monday. The loonie has depreciated 3.06% against the greenback so far during the current […]