Are These 2 Top E-Commerce Stocks On Your Summer Watchlist?
It is no surprise that e-commerce stocks have been on the rise. There has been a massive boom in online sales since the start of the current economic crisis. This is due to people not leaving their homes anymore. Many turned to e-commerce companies to purchase products they need. Since retail locations and shopping malls were closed there was no other alternative for consumers.
This was great for top e-commerce stocks during these times. Many e-commerce stocks were able to recover or come close. This doesn’t mean that all e-commerce companies did well but many were able to. It’s still unsure what will happen to e-commerce stocks once the economy reopens. With talks of a second wave of the current virus, there are no signs of e-commerce stocks slowing down.
Companies selling more products and releasing positive quarterly reports have created momentum for certain e-commerce stocks. E-commerce stocks were on the rise regardless of the economic crisis. Shopping malls have seen a significant decline in customers due to e-commerce companies. Let’s take a look at some e-commerce stocks that have been trending in the market.
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Top E-Commerce Stocks To Watch In 2020: eBay
This first e-commerce stock, eBay Inc. (EBAY stock report), just reached a new record high. eBay was founded in 1995 and has grown to be one of the well-known e-commerce websites in the world. The website allows people to list items to sell online for free. They make money by taking a percentage of sales. You can sell things via “Buy It Now” or using an auction-style listing.
Shares of EBAY stock saw a slight decrease when the economic crisis began. Quickly EBAY stock price began to rise up right after. Investors realized that e-commerce stocks were on the rise due to stay at home orders. Since March, EBAY stock saw an increase of around 96%. EBAY stock price was around $35 a share before the economic crisis. As of June 19th, EBAY stock has reached $51 a share. This is just about the all-time high for EBAY stock.
As e-commerce companies continue to grow, it is expected that eBay will too. It is one of the largest e-commerce companies in the United States. If the company keeps reporting positive financials, EBAY stock price will continue to rise. Do you think EBAY stock will rise past its new record high or fall? It is unsure what will happen to EBAY stock price, so it can be good to keep an eye on this e-commerce stock to watch.
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Top E-Commerce Stocks To Watch In 2020: Amazon
The next e-commerce stock to watch, Amazon.com Inc. (AMZN stock report), is well known to everybody. Amazon is an e-commerce and now retail company that was founded in 1994 as an online book store. It is one of the Big Four technology companies with Google, Microsoft, and Apple. It is one of the world’s largest companies and the second largest private employer in the United States. Amazon has seen a lot of positive sales due to the stay at home orders. Amazon is the primary source for many consumers to buy a variety of products. This means when it came to household essentials Amazon was able to supply consumers without leaving their houses.
Because of this, AMZN stock was able to reach new highs. Before the pandemic, AMZN stock price was around $2130 a share. AMZN stock saw a decrease when the economy fell, but has climbed back up since. As of June 29th, AMZN stock price is at around $2690 a share. This 26% increase in AMZN stock was very significant for investors. Amazon saw increased sales which drove up AMZN stock price by this much.
Bottom Line
As e-commerce stocks continue to rise, it shows how this is the preferred way to shop for many. Amazon is one of the largest companies due to the increase in e-commerce and the decline of retail. While retail won’t ever die, it is still losing relevance to e-commerce companies. AMZN stock and EBAY stock are two great examples of striving e-commerce stocks. These companies reaching new highs make them two e-commerce stocks to watch.
