Amazon Stock Jumps After Launching High-End Shopping Experience

The equity is already up over 75% year-over-year

Digital Content Manager
Sep 15, 2020 at 11:17 AM
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The shares of, Inc. (NASDAQ: AMZN) are up 0.8% at $3,128.51 at last check, after the technology giant launched a new, high-end shopping experience called Luxury Stores, which will offer products from established and emerging luxury fashion and beauty brands. Now available in the Amazon app by invitation only, the experience features Oscar de la Renta as its first store, with new brands to be added in the coming weeks and seasons. 

On the charts, the security has been cooling off from its all-time-high of $3,552.25 on Sept. 2. Though shares have been on an upward trajectory for the past several months, breaking records on a consistent basis since April, the equity is now slipping below the once supportive 40-day moving average. Longer term, however, Amazon stock is up 73.9% year-over-year.

Analysts are overwhelmingly optimistic towards AMZN, with 33 of the 34 in coverage sporting a "buy" or better rating, and only one carrying a tepid "hold." Meanwhile, the equity's 12-month consensus target price of $3,661.68 is a 16.4% premium to current levels.

This upbeat sentiment is reflected in the options pits, where calls are popular. The security sports a 50-day call/put volume ratio of 1.52 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits in the 85th percentile of its annual range. This suggests a healthier-than-usual appetite for bullish bets of late. 


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