Should You Buy Amazon Stock Right Now?
Since the stock market began its coronavirus-induced selloff in mid-February, few stocks have been spared from some amount of downturn. The broader markets have lost more than a quarter of their value since mid-February, with the S&P 500 (SNPINDEX: ^GSPC) down 27% since the decline began (as of this writing). Over the past six weeks, investors have been on a roller coaster ride of epic proportions with unprecedented daily moves by the major indices. Yet even in this market, opportunities abound.
One of the stocks that has held up better than most is Amazon.com (NASDAQ: AMZN), which has only declined about half as much as the broader market, falling 12% over the same period. The company has made plenty of headlines for providing an e-commerce lifeline to consumers as many forgo their weekly trips to the grocery store to avoid social contact that might spread the virus.
This raises the question: In the face of economic uncertainty and the potential for a prolonged market slump, should investors consider adding Amazon stock to their portfolio right now?
Source Fool.com
