Amazon Stock Rising After Detwiler Fenton Comments

Amazon.com, Inc.

stock is rising 2.11 percent on Tuesday's early trading session after Detwiler Fenton & Co. speculated that Sprouts Farmers Market Inc

testing with the company may be a key growth driver in 2016. The company's stock hit a record high of $689.75 on Tuesday, with a 1.8 percent gain at $687.56. Amazon has

its former all-time high ($684.82), reaching $689.75 before pulling back to its current level. The issue has gained over $25 since last Thursday's close of $663.79. Online retail volume growth is forecasted to reach the 20 percent range, according to

. Sprouts Farmers Market is a part of Amazon's Prime Now service in Los Angeles and other testing markets. The testing partnership between the two companies currently allows customers in Los Angeles to shop local grocery stores such as Sprouts Farmers Market from their Amazon Prime Now app. Amazon had a record setting holiday season. In December, over 3 million Amazon Prime members joined Amazon's service which costs $99 annually. Amazon stated on Monday, that more than 3 million members joined its Prime Now service in the third week of December, bringing its total to tens of millions. "This was another great holiday season to be a Prime member, and we welcomed three million new members in the third week of December alone," said Jeff Bezos, Founder and CEO of Amazon.com.