On Monday, Andy Jassy formally took over as CEO of Amazon.com Inc (NASDAQ: AMZN), succeeding Jeff Bezos. Following the C-suite change, the stock is hitting fresh all-time highs.
Associated Link: Jeff Bezos Is No Longer Jeff Bezos Is No Longer Jeff Bezos Is No Longer Jeff Amazon’s CEO
On CNBC’s “Squawk On The Street,” Jim Cramer stated Tuesday that Amazon’s stock shouldn’t have been trading sideways for so long.
During the COVID-19 pandemic, Amazon gained a significant amount of market share, which it is not giving back, he claimed.
Last year, he noted, many customers who previously purchased in stores or elsewhere began doing so on Amazon.
People who switched to Amazon shopping enjoyed it so much that they’re sticking with it, according to Cramer.
AMZN Price Changes: Year-to-date, Amazon is up 11.22 percent.
The stock was up 3.43 percent to $3,631.26 at the time of our latest check on Tuesday.
Amazon provided the image.
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