Amazon (AMZN) stocks value has been predicted to rise owing to recent happenings in the globe. Coronavirus owing to its rampaging effect has been said would help propel AMZN stocks value because it has improved the work from home economy and would eventually benefit e-commerce giant.
The market crash on Monday that affected both prices of oil, and many cryptocurrencies, including Bitcoin, did not leave the stock market out as even listed top firms had their stock price coming down. Global and multinational firms like Apple, Microsoft, etc. were corrected to the tune of 4-5 percent. It has left investors to ask questions as to what is happening.
Jim Cramer, an analyst at CNBC, however, has said otherwise. Cramer believes now is the time for investors to buy Amazon (AMZN) stocks as he believes that AMZN stocks value over time would begin to hike.
On Monday, when the stock market plunged, AMZN stocks value dropped by around 5 percent ending the day at 1800levels. Currently, the firm’s stock trades around $1800 with a market capitalization of $896 billion.
Cramer primarily believes that with the outbreak of coronavirus, Amazon and other e-commerce sites are going to rip the most economic benefit of the epidemy as the virus has made organizations enforce their staff to begin to work from home. Apple inc boss also Tim Cook asked that his staffs work from home this week.
If this continues, Cramer predicts that there would be a shift in the way consumers behave and term the trend to stay at home behavior. He said that the central idea is staying at home, but Amazon will get it to people. He believes that with oil prices seriously plunging, Amazon will soar as he says that to buy Amazon stock now when the market is unstable is feasible.
Crashing oil prices
Monday is described as one of the worst markets falls the day after the financial crisis 12 years ago. Brent crude oil price plunged by over $30 per barrel. This is because the Organization of the Petroleum Exporting Countries (OPEC) was unable to conclude on improving oil prices by reducing production. Dow Jones also went down by 8%, which is more than 2000 points in 1 day as S&P also went down 7% all on Monday.
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