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Why Amazon Stock Climbed 14% Last Month

TheMotleyFool

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Shares of Amazon (NASDAQ: AMZN) moved higher in July, riding a bullish wave in e-commerce stocks as the U.S. experienced another resurgence of COVID-19 cases. The tech giant also reported a blowout earnings report at the end of the month. According to data from S&P Global Market Intelligence, the stock finished the month up 14%.

As you can see from the chart below, the stock got off to a strong start and held on to those gains for the duration of the month, surging on its earnings report at the end.