Why Amazon Stock Popped Today

·2 min read
Why Amazon Stock Popped Today

Shares of Amazon.com (NASDAQ: AMZN) jumped 3.3% on Friday after retail sales unexpectedly climbed in September. Concerns had been mounting that stubbornly high COVID-19 case counts, the end of enhanced unemployment benefits, and supply chain bottlenecks would conspire to weaken the retail industry's recovery. As the largest e-commerce company and second-biggest retailer (by sales) in the U.S., Amazon stands to benefit from these sales trends as it enters the all-important holiday shopping season.

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