Buy This Unstoppable E-Commerce Giant While It Sits Near a 52-Week Low
Even Amazon (NASDAQ: AMZN) has been unable to escape the repercussions of this terrible economy. Amazon posted its fourth-quarter revenue guidance on its end-of-September 2022 report, showing only 2% to 8% year-over-year growth, and as of Dec. 20, the stock had sunk 24% to a 52-week low. Considering market experts think there will be a recession in 2023, you might wonder if now is really the time to buy this stock.
However, wise investors are buying Amazon as it sits near its 52-week low. Here's why.
Prime might have started as a way to make e-commerce more acceptable by providing free two-day delivery. However, it quickly became the world's most incredible loyalty and retention subscription service. For instance, market research company Statista estimated that U.S.-based Prime members have a 93% retention rate after the first year and 98% after two years.
Source Fool.com
