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Amazon.com Inc (NASDAQ:AMZN) shares closed higher on Thursday afternoon after the company announced a deal with JetBlue Airways Corp (NASDAQ:JBLU). Here’s what investors need to know.
Get the inside scoop on AMZN stock here.
What To Know: Under the agreement, Amazon's Blue Origin unit will provide satellite internet to JetBlue aircraft, a project Kuiper partnership that could boost in-flight Wi-Fi.
This positive news comes despite a reported slowdown in U.S. Prime membership sign-ups during the company's extended Prime Day event. While the company delivered record sales, the number of new Prime sign-ups fell short of internal goals by 193,000.
Additionally, the stock's performance is being boosted by its advancements in the AI space. Amazon is reportedly developing an AI-powered workspace software called Quick Suite to compete with other tech giants like Google and Microsoft in the generative AI market.
Benzinga Edge Rankings: According to Benzinga Edge rankings, Amazon stock demonstrates a standout quality with an impressive Growth score of 92.26.
AMZN Price Action: According to data from Benzinga Pro, Amazon shares closed Thursday up 4.29% to $235.18. The stock has a 52-week high of $242.52 and a 52-week low of $161.43.
By now, you're likely curious about how to participate in the market for Amazon, be it to purchase shares or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of Amazon, which was trading at $235.24 today, $100 would buy you 0.43 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option or sell a call option at a strike price above where shares are currently trading — either way, it allows you to profit from the share price decline.
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