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Amazon.com Inc (NASDAQ:AMZN) has launched the Amazon Barclaycard in partnership with Barclays, adding to its range of services. This new Visa credit card improves the shopping experience by offering up to 2% cashback on Amazon purchases, making it ideal for frequent shoppers.
To attract a wide customer base, the card features a six-month interest-free period and no annual fee, which helps avoid extra costs. However, potential cardholders should note the financial implications after the introductory period.
After the first six months, Amazon Barclaycard has a high annual percentage rate (APR) of 28.9%. Additionally, cashback benefits are reduced after the first year, which may lessen its appeal in the long run.
One drawback is the lack of Apple Pay integration at launch, a feature favored by younger consumers, which could make it less appealing to that demographic.
Amazon's stock performance this year has been quite volatile, with significant ups and downs. Overall, the stock has increased by about 12%. A key moment occurred with the earnings report on August 1, which showed earnings of $1.26 per share, beating the estimate of $1.03.
Surprisingly, this led to a sharp drop in the stock price, highlighting the complex factors affecting investor behavior and stock valuation.
The stock fell back to its opening level for the year before making a strong recovery. This volatility demonstrates the stock's resilience and growth potential, especially after a 32% increase in July.
As it approaches the psychological barrier of $200, which was previously tested in July, whether it can break through this level again will be important for its future trajectory.
Investors and market watchers are keeping a close eye on these developments, especially given Amazon's history of generally favoring long-term growth. The mood is one of cautious optimism, with many expecting the stock to recover and potentially reach new highs in the near future.
After the closing bell on Wednesday, August 14, the stock closed at $170.10, trading down by 0.08%.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.
Posted In: AMZN