Amazon Posts Recovery High Since Flash Crash

em>Joel Elconin is the co-host of

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Amazon.com Inc.

shares are trading higher by $4.73 at $532.12 in Thursday's session. Before the open, the company unveiled a new Fire TV gaming edition that starts $139.99. After a modestly lower open, it immediately bottomed at $526.57 and began to move higher. So far, it has rallied to $533.98, eclipsing the former rebound high from the Flash Crash which was $532.45. It should be noted that the current intraday high coincides with its August 20 high ($533.25) that preceded the Flash Crash. Its highest close since that day was on September 11, when it ended the session at $529.44. The all time high for Amazon was made the day following stellar Q2 report at $580.57. The all time closing high was made on August 5 at $537.01.