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Amazon Shares Will Continue To Surge After Pandemic Subsides, Mark Cuban Says

April 20, 2020
Amazon.com Inc. (NASDAQ: AMZN) shares will continue to surge even after the coronavirus (COVID-19) pandemic ends, according to Mark Cuban.What HappenedThe pandemic has forced inherent changes in consumer behavior, the Dallas Mavericks owner told CNBC. Civilian lockdowns imposed to curb the spread of the coronavirus have made consumers comfortable with e-commerce, and this change is likely permanent."People who weren't comfortable dealing with Amazon for consumables, for food, for produce even, I think they've gotten to that habit now," Cuban told CNBC."I think Amazon just takes off," said Cuban, a longtime shareholder of Amazon's stock. "I think it goes up, up, up, up, up."The "Shark Tank" star said that consumers being scared of going back to physical stores will also play a role in keeping the demand for Amazon's services high.Why It MattersAmazon shares closed Monday's session 0.8% higher at $2,393.61. The stock is up 29.5% year-to-date.The e-commerce giant last week added 100,000 people to its workforce in warehouse and delivery roles over the course of a month, and was looking to add another 75,000 employees as soon as possible.Amazon has announced a host of measures to support employees during the pandemic, including grants paid leaves for those who contract COVID-19, and an additional relief fund. Nevertheless, workers have protested what they say are lack of safety measures across Amazon warehouses in the U.S.Related Links:How The COVID-19 Pandemic Turned Amazon, Netflix Into Essential BusinessesAmazon Analyst Says This 'Strategic Asset' Could Bring B In RevenuePhoto credit: Gage Skidmore, Wikimedia CommonsSee more from Benzinga * Comcast's Fandango To Buy Walmart's Video-On-Demand Subsidiary Vudu * Amazon Cuts Affiliate Commissions In US * 'Choose Joplin,' A Missouri City Trying To Get Tesla To Build Gigafactory There, Offers B In Incentives(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. Read More...

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Amazon.com Inc.&nbsp;(NASDAQ: AMZN) shares will continue to surge even after the coronavirus (COVID-19) pandemic ends, according to Mark Cuban.” data-reactid=”19″>Amazon.com Inc. (NASDAQ: AMZN) shares will continue to surge even after the coronavirus (COVID-19) pandemic ends, according to Mark Cuban.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What Happened” data-reactid=”20″>What Happened

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The pandemic has forced inherent changes in consumer behavior, the&nbsp;Dallas Mavericks owner told CNBC. Civilian lockdowns imposed to curb the spread of the coronavirus have made consumers comfortable with e-commerce, and this change is likely permanent.” data-reactid=”21″>The pandemic has forced inherent changes in consumer behavior, the Dallas Mavericks owner told CNBC. Civilian lockdowns imposed to curb the spread of the coronavirus have made consumers comfortable with e-commerce, and this change is likely permanent.

“People who weren’t comfortable dealing with Amazon for consumables, for food, for produce even, I think they’ve gotten to that habit now,” Cuban told CNBC.

“I think Amazon just takes off,” said Cuban, a longtime shareholder of Amazon’s stock. “I think it goes up, up, up, up, up.”

The “Shark Tank” star said that consumers being scared of going back to physical stores will also play a role in keeping the demand for Amazon’s services high.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Why It Matters” data-reactid=”25″>Why It Matters

Amazon shares closed Monday’s session 0.8% higher at $2,393.61. The stock is up 29.5% year-to-date.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The e-commerce giant last week added 100,000 people to its workforce in warehouse and delivery roles over the course of a month, and was looking to add another 75,000 employees as soon as possible.” data-reactid=”27″>The e-commerce giant last week added 100,000 people to its workforce in warehouse and delivery roles over the course of a month, and was looking to add another 75,000 employees as soon as possible.

Amazon has announced a host of measures to support employees during the pandemic, including grants paid leaves for those who contract COVID-19, and an additional relief fund. Nevertheless, workers have protested what they say are lack of safety measures across Amazon warehouses in the U.S.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Related Links:” data-reactid=”29″>Related Links:

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How The COVID-19 Pandemic Turned Amazon, Netflix Into Essential Businesses” data-reactid=”30″>How The COVID-19 Pandemic Turned Amazon, Netflix Into Essential Businesses

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Amazon Analyst Says This ‘Strategic Asset’ Could Bring B In Revenue” data-reactid=”31″>Amazon Analyst Says This ‘Strategic Asset’ Could Bring B In Revenue

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Photo credit: Gage Skidmore, Wikimedia Commons” data-reactid=”32″>Photo credit: Gage Skidmore, Wikimedia Commons

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See more from Benzinga” data-reactid=”33″>See more from Benzinga

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”38″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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