Amazon.com will benefit huge from Cyber Monday
Submitted by Frank Lara Jr. on Sun, 11/30/2008 - 22:46.
Amazon.com (NASDAQ:AMZN) will be featuring a new sale item every hour starting at 12:01 am Monday, get ready for Cyber Monday.
From $97 all the way down to $34, now Amazon.com shares are in the low $40 range and if things go their way on Cyber Monday, shares could really rally.
Cyber Monday was coined in 2005 as an alternative huge shopping day to Black Friday. Unlike Black Friday, where people rush into malls and kill each other to buy their goods, Cyber Monday has an influx of shoppers purchasing their gifts on store websites.
Online shopping has been a viable alternative for years, pioneered by Amazon and adapted by superstores. This year, Cyber Monday may be more important than ever to the economy. With people not wanting to waste more gas this year, and wanting to avoid the mad violent rush of malls, online shopping is more appealing than ever.
Black Friday was better than expected, U.S. retail sales online rose 1% on Black Friday according to comScore, the holiday shopping season is off to a $534 million start.
Combined with web sales on U.S. Thanksgiving the previous day, the figure rose 2 percent, but sales are down 4 percent to date in November from a year ago, comScore said. The firm has forecast total web holiday sales to be flat this year at $29.2 billion, compared with a 19 percent rise in 2007.
This is great news for beat up Amazon (AMZN) shares, with lower expecations, AMZN is sure to make a comeback. Expect heavy trading come tomorrow morning on Amazon shares.
The Street is expecting weak sales from Amazon.com and other online retailers, but imagine if the numbers are better than the dismal outloook, something to consider:
Disclaimer: No positions in AMZN.
- Login or register to post comments
Email this page
Thanks for visiting WallStNation.com, to assist your investing research try using our Search (click to access) or review the list of Tickers (click to access) that link directly to articles related to the given stock/security.
Daily Market Summary
| |
|
|
|
Please Review the WallStNation.com Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details
