Amazon’s AMZN stock (amazon stock price) was said to be suffered from a huge loss when the pandemic began and the stocks fell more than 10% during that period. And when the company started operating fully it rose its stock to around 20% which was a huge profit.
Many investors thought that Amazon’s business is going to suffer a lot and its stock will go down in loss too much during this pandemic but it seems that the investors were wrong as Amazon had made a huge profit after its reopening and it is flocked by investors.
Despite the huge fall in its price Amazon’s stock price fell to 1676$ which was the lowest amount which was set around 2018 so basically, the company’s stock fell for 2 years but Amazon quickly recovered from it.
Investors had realized that Amazon’s online shopping had made it a big and also very requested company in this pandemic.
Amazon had partnered up with Lyft so that they can use the help in its warehouse workforce and also needed someone to deliver its product in the US that is doorstep delivery because there were many customers ordering from Amazon.
Investors were also attracted to buy Amazon’s stock as it provided a feature of live video streaming like Netflix in which you can view any movie or web series you want on the amazon prime video website or app.
How does project Tempo help Amazon?
According to the New York Times, Amazon is planning to release Tempo which will be a gaming app just like Google stadia but it will be better than it as Amazon is working on it from a long time and it will also have to option of live streaming.
With Amazon releasing Tempo it will help out a lot but Amazon already has a live streaming platform called Twitch which it had purchased a long time ago and there over a Billion users on it daily.
Stadia will provide a platform of gaming where those people who don’t have high-end devices can play the games which are releasing new and it will also provide those games at a cheap rate than its original sale price.
Amazon will be competing against Microsoft and Nvidia in order to become the best company among the gaming community. The gaming company has revenue of 158 Million$ in 2019 and has hit around 356 Billion by the end of the year and is estimated to make around 3.2 Billion$ by 2023. You can get more information from AMZN stock news.