From Nasdaq: 2024-11-13 15:28:13

Shares of Amazon (NASDAQ: AMZN) surged 2.2% to an all-time high, outperforming the Nasdaq Composite. The company unveiled Amazon Haul, a low-priced e-commerce store, to compete with Chinese rivals Shein and Temu.

Amazon Haul offers items below $20, most under $10, with free shipping on orders over $25. The store, currently in beta, aims to counter competition from Chinese apps shipping directly from China.

Following strong earnings and innovation in Amazon Web Services, Amazon stock remains a solid hold. Analysts suggest considering a position even at all-time highs for potential growth opportunities.

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Read more at Nasdaq: Why Amazon Rallied Today | Nasdaq