'Stick to the…Playbook' Amazon Stock (NASDAQ:AMZN) Gains on Familiar Prime Day Plans

Business Insider

20 hours ago

It seems like we only just recovered from the last Prime Day, but online retail giant Amazon (AMZN) is already gearing up for a new Prime Day to come this October. And new reports say that this Prime Day will look a lot like the earlier ones, with a two-day format. Investors were reasonably pleased, and piled in accordingly, sending shares surging up nearly 3% in Thursday afternoon's trading.
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Back in July, Amazon decided to try a longer Prime Day. But the plan did not seem to stick, as when Amazon rolls out Prime Big Deal Days this October, the two-day format will be back in play. Amazon has not officially announced this yet, but multiple reports say that the big sale will drop back to two days instead of the longer format tested in July.
The official dates of the sale have also not been announced yet, but as we get closer to October, that will almost certainly be revealed. But we also know that the four-day run proved to be a success, considered '…bigger than any previous four-day period that included a Prime Day event.' However, in spite of this, other reports suggest that the sales growth for the bigger Prime Day event was '…relatively muted despite the longer timeline.'
The NBA on Amazon
Meanwhile, Amazon also brought out details about its planned 17-game schedule for NBA Cup action on Prime Video. Prime Video will be showing 10 NBA Cup group games, reports note, as well as the 'knockout rounds.' These will be presented as five double-header matches, running for five straight weeks, starting October 31.
For those wondering about the other 50 group games, those will be making their way to a wide range of options. Disney's (DIS) ESPN will handle some of them, while Comcast's (CMCSA) NBC will take others. NBA League Pass will also be involved, and that accounts for the mix, at last report. A full schedule of all games will also be available coming up.
Is Amazon a Good Long-Term Investment?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 44 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 26.45% rally in its share price over the past year, the average AMZN price target of $265.22 per share implies 14.54% upside potential.