Why Amazon Stock Popped Tuesday Morning
Shares of Amazon (NASDAQ: AMZN) climbed higher Tuesday morning, adding as much as 6.1%. As of 12:53 p.m. ET, the stock was still up 5.2%.
The broader markets rallied Tuesday, which no doubt added fuel to its rise, but another catalyst that helped send the e-commerce giant higher was some bullish commentary by an analyst.
Despite the challenges wrought by current macroeconomic conditions, JPMorgan analyst Doug Anmuth noted "increasing interest in select names" across the internet group, as the recent market plunge has resulted in a number of compelling stock buys. One such opportunity is Amazon, which remains his "best idea" in the sector.
Source Fool.com
