Why Amazon Shares Rose 3.5% in March
While stocks entered a bear market in March, shares of Amazon (NASDAQ: AMZN) resisted, rising 3.5% during the month, according to data provided by S&P Global Market Intelligence. Amazon climbed as the coronavirus outbreak kept shoppers at home -- and ordering online.
Though the U.S. hasn't issued a lockdown order for the entire country, in March governors of states including California and New York urged residents to stay home. As cases mounted -- now totaling more than 850,600 -- consumers stocked up on the essentials. Amazon said it was creating 100,000 full-time and part-time positions in the U.S. in fulfillment centers and delivery to meet demand. The company also is spending more than $350 million worldwide to boost pay by $2 or the local currency equivalent for employees in fulfillment, transportation, stores, and delivery through the end of April.
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Source Fool.com
