Why Amazon Stock Popped Monday Morning
Shares of Amazon (NASDAQ: AMZN) climbed higher Monday morning, adding as much as 3.1%. As of 1:29 p.m. ET, the stock was still up 1.5% -- even as each of the major stock indexes slumped.
The catalyst that sent the e-commerce giant higher were reports the company will hold a second Prime Day sale this year, which will kick off in just weeks.
In a press release that dropped early this morning, the company introduced Amazon's Prime Early Access Sale, a shopping event exclusively for Prime members, which will be held on Oct. 11-12. "The new 48-hour event gives Prime members exclusive early access to holiday deals," the company said in a statement. The sale will have items from popular brands, including Peloton and New Balance, while also offering the lowest prices of the year on a variety of other products.
Source Fool.com
