1 Stock-Split Stock to Buy Now, Despite a Drag From Rivian
In 2019, global e-commerce giant Amazon (NASDAQ: AMZN) placed an order to purchase 100,000 electric utility vehicles from Rivian Automotive (NASDAQ: RIVN) to help fulfill its goal to have an entirely green energy-powered delivery fleet by 2030. Along with the order, Amazon accumulated a stake in the electric vehicle maker. That stock purchase has wreaked havoc on Amazon's bottom-line results over the last few quarters.
But Amazon is no stranger to navigating the volatility in emerging industries. It has become a world leader not only in e-commerce, but also in cloud services, streaming, and even digital advertising.
Fresh off its recent 20-for-1 stock split, Amazon posted its second-quarter 2022 financial results on July 28. Here's why investors sent its stock price 10% higher the following day despite the company posting a net loss of $2 billion.
Source Fool.com
