This Is Why George Soros Bought More AMZN Stock

This Is Why George Soros Bought More AMZN Stock

This Is Why George Soros Bought More AMZN Stock

  • Buz Investors George Soros Bought More AMZN George Soros was quite bullish on Amazon.com, Inc.(NASDAQ:AMZN) after the second quarter this year. The recent 13F filing by Soros Fund Management LLC shows that the fund owns 39,510 shares of the company.
  • This is a more-than-200% increase over the position reported in the second quarter of the year when the fund owned 12,537 shares. (Source: “Form 13F Information Table,” U.S. Securities and Exchange Commission, last accessed November 15, 2016.)
  • As of September 30, 2016, Soros Fund Management held Amazon shares worth $33.0 million. For the quarter ended June 30, the fund owned Amazon shares worth $9.0 million. The news may provide the much-needed push to AMZN stock in the short term.

George Soros Bought More AMZN 

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George Soros Bought More AMZN Amazon stock had been one of the most-loved stocks in the past, on the back of its growing “Prime,” “Kindle,” and “Cloud” businesses. AMZN stock had touched the lows of around $480.00 in February and skyrocketed to an all-time high of $847.21 on October 6

Analysts had been quite bullish on the stock and were setting price targets for AMZN stock at $1,000 or more. There were huge expectations from the third-quarter results of the company as the previous two quarters had seen impressive growth and high profits

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George Soros Bought More AMZN

 

George Soros has been a big critic of the president-elect. Soros supported the Democratic candidate, Hillary Clinton, throughout and was totally expecting her to win until the unthinkable happened. Technology stocks have been hammered following Trump’s win in the election, and there are few big names in Soros’ stocks.

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In the case of Amazon.com, Inc., Donald Trump has a number of issues with the company. Trump had accused the Washington Post (which is owned by Amazon.com CEO Jeff Bezos) of campaigning against him. Trump had also made statements in his campaign that oligopolies should be broken up, and that Amazon is most likely to be subjected to this scrutiny.




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