Amazon ( (AMZN) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Amazon is preparing for another Prime Day event in October, reverting to a two-day format after experimenting with a longer sale period in July. This move has been met with positive investor sentiment, as shares rose nearly 3% following the announcement. While the official dates have yet to be confirmed, the upcoming ‘Prime Big Deal Days’ are expected to attract significant consumer interest, mirroring the success of previous events.
In addition to the Prime Day news, Amazon is expanding its sports streaming offerings. The company will feature a 17-game NBA Cup schedule on Prime Video, including group games and knockout rounds, starting October 31. This strategic move positions Amazon as a key player in the sports streaming market, alongside other major platforms like ESPN and NBC. Analysts maintain a strong buy rating on Amazon stock, with a projected 14.54% upside potential, reflecting confidence in the company’s long-term growth prospects.