Amazon.com (NASDAQ:AMZN) shares are up by more than 1% to $1006.51 on Wednesday after the company reported that its sales for its annual Prime Day event rose by 60% compared to the same period last year.
Massive Prime Day Sales
The company’s shares first crossed the $1000 threshold last May briefly due to the company’s positive performance before it slid back down to the $900 range again. However, the shares of the company are not back to more than $1,000 per share after a positive Prime Day sales performance that broke new records for the company.
Prior to the beginning of Prime Day, Amazon has been predicted to rally back to the $1000 level due to the reception of the deals announced as early as last week.
Amazon, which celebrated Prime Day for the third consecutive year in line with its anniversary celebration runs the shopping event for thirty hours and is accessible to twelve other countries outside the United States. Prime Day is exclusively for Amazon Prime members. The event offered huge discounts and deals on more than 100,000 products including Amazon’s own brands.
Among the biggest deals included discounts of thirty to fifty percent on Amazon’s popular Echo and Echo dot speakers known for being powered by Amazon’s artificial intelligence Alexa. Prime members who had access to Alexa were given a chance to shop Prime Day deals two hours in advance before it officially started last Monday evening.
Other News
Amazon, which has been continuously expanding its operations through numerous acquisitions and deals has, in the past month, been reported to be testing its hand in the real estate business.
On Tuesday, amidst the Prime Day event, reports showed that the e-commerce giant silently released a hiring page for realtors under a Home and Business Services section. According to the reports, the page led to a teaser of an upcoming service that would give consumers a way to hire a real estate agent directly through Amazon. The page was taken down by Wednesday afternoon. Shares of Zillow Group (NASDAQ:ZG), known for being one of the largest online real estate sites, slumped by 4% after reports of Amazon expanding to real estate surfaced.
The company previously announced its intention to add a grocery section in its platform after releasing its plans to acquire Whole Foods Market (NASDAQ:WFM) for almost $14 billion. Amazon is projected to be one of the biggest grocery providers in the next ten years should the Whole Foods deal get settled.