Amazon (NASDAQ:AMZN) investors are keeping a close eye on AMZN stock as the e-commerce giant prepares to hold its annual Prime Day sale event tomorrow!
The Amazon Prime Day event allows customers of the company’s Prime subscription service to grab special deals during it. That includes heavy discounts on a large array of products on AMZN’s website.
While the event is called Prime Day, it will actually last for two days. It starts on July 16 and will last through July 17. It’s also worth mentioning that there are already some early deals available on the platform today.
What This Means for Amazon Stock
Amazon stock is likely to get a boost from Prime Day. That’s due to the increased sales the company is expected to see during the event. Experts are predicting this could result in record sales of $14 billion for Prime Day 2024.
Breaking down that spending, experts are predicting $7.1 billion in sales on Tuesday and $6.9 billion in sales on Wednesday. This would represent an 11.3% increase and a 9.2% increase year-over-year, respectively.
AMZN stock is up slightly on Monday morning. The stock is also up 30.5% since the start of the year.
Investors will want to keep reading for more of the most recent stock market stories on Monday!
We have all of the hottest stock market news worth reading about today! That includes everything happening with shares of Super Micro Computer (NASDAQ:SMCI) stock, Meta Platforms (NASDAQ:META) stock and Trump Media & Technology (NASDAQ:DJT) stock. You can catch up on all of that at the links below!
More Monday Stock Market News
- SMCI Stock Alert: Super Micro Computer Is Joining the Nasdaq-100
- Dear META Stock Fans, Mark Your Calendars for July 23
- DJT Stock Trades Up 50% Following Trump Assassination Attempt
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
