Amazon (AMZN)

.. $Amazon(AMZN.US)$ .. Today is Tuesday, July 16th. Today is also "day one" of Amazon (AMZN) Prime Day, which has become a two-day bargain hunting affair over the past few years. Firms like Walmart (WMT) $Walmart(WMT.US)$ and Target (TGT) $Target(TGT.US)$ have come up with competing shopping holidays, but it is Prime Day that steals the consumers' attention, and Amazon that continues to grow overall market share in the retail space through its on-line dominance. Amazon has held "Prime Day" since 2015 and it has been a huge success. The first day of the event in 2023, July 11th, was the single largest sales day in Amazon's history. According to the Angela Palumbo piece at the Barron's website, Adobe (ADBE) Analytics $Adobe(ADBE.US)$ has forecast a rough $14B in sales over the event's two days, which would also be a new record. As for the share price, Amazon has averaged a rise or 1.7% for the week following the event and a rise of 4.3% for the month after. I am long the stock, which is up 27% so far in 2024. I am long AMZN & WMT equity.