Amazon.com, Inc. AMZN is hosting its Prime Day sale event on Tuesday nearly one year after holding a similar event on July 15, 2015.
A Look Back
Amazon's 2015 Prime Day was met with mixed reaction as many consumers were disappointed with the lack of meaningful and compelling deals. Mashable reported at the time that the "vast majority" of items for sale are "super weird," and it seemed like Amazon "dug deep into its warehouses after its years-long Internet garage sale and found the things people didn't know they wanted until they were offered at discount."
While many consumers were frustrated and others had a good laugh at the "super weird" products for sale, shares of Amazon have surged since 2015's Prime Day when the stock was trading in the mid-$400s level.
Amazon's stock opened for trading on 2015's Prime Day at $463.04 and hit an intra-day high of $464.70, an intra-day low of $460.20 and closed the trading day at $461.19.
However, the stock opened notably higher the following day at $465.50 and gained nearly $10 per share to close the day at $475.48. Investors and traders reacted to Amazon's announcement that it actually sold more units on Prime Day than it did during Black Friday 2014. Did you like this article? Could it have been improved? Please email firstname.lastname@example.org to let us know!
Amazon also said more new members signed up to try Prime than any other day in its history.
The buying momentum continued in the days and weeks following Prime Day 2015. Shares surged past the $500 per share mark a few days later on July 24 after the company reported upbeat earnings for its second quarter.
Amazon's stock was trading higher by 0.64 percent at $758.60 ahead of Tuesday's market open, implying it will eclipse its prior 52-week high of $755.90.
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