Why Amazon Stock Beat the Market on Friday
Shares of Amazon (NASDAQ: AMZN) climbed Friday, adding as much as 2.4%. As of 11:57 a.m. ET, the stock was still up 0.3%, despite the broader market being under water.
The catalyst that gave the e-commerce provider a boost was positive commentary from a Wall Street analyst.
Citi analyst Ronald Josey took a glass-half-full approach to Amazon's future potential. Despite removing the company from Citi's Focus List, the analyst believes any risk to the stock is already priced in, particularly for long-term investors. He highlighted Amazon's share price, which has fallen more than 42% off its recent high.
Source Fool.com
