COVID-19 Is Turning Amazon's Business Upside Down
Amazon (NASDAQ: AMZN) shares have rocketed to all-time highs during the coronavirus pandemic.
The e-commerce giant, responsible for about half of online sales in the U.S., has been called upon by Americans and those around the world over the last several weeks to ramp up delivery of essential items like food, cleaning supplies, and medicine while stay-at-home orders are in effect to prevent the spread of coronavirus.
Amazon has seen unprecedented demand during the outbreak, and it has responded by hiring another 175,000 fulfillment and delivery workers. CEO Jeff Bezos spent much of his recent shareholder letter talking about the challenges and the changes to the company caused by the pandemic, and in the earnings release said it was "the hardest time we've ever faced."
Source Fool.com
