Why I Just Bought More Amazon Stock
Shares of Amazon (NASDAQ: AMZN) are up more than 70% this year, and it seems like the stock market is setting all-time highs almost every day. So why, given such a big run-up, why would I be adding to my Amazon stock right now? I'm glad you asked.
It has nothing to do with Amazon being one of the so-called "stay-at-home" stocks growing during the pandemic. This investment is about years, not quarters. It's about building a bigger stake in a company with brilliant leadership that has positioned itself perfectly in markets that were growing fast before we'd ever heard of social distancing. Here are the main reasons I just bought more Amazon stock.
An Amazon employee works in one of the company's distribution centers. Amazon has spent tens of billions of dollars this year on its distribution network. Image source: Amazon.
Source Fool.com
