Amazon shares fall for a second straight session on Monday, company to hold hiring events in six US cities on September 17th

September 10, 2019 6:57 am

Amazon.com Inc (AMZN) said on Monday that it would hold hiring events across the United States next week, as it is seeking to fill over 30 000 vacant posts by early 2020.

Amazon shares closed lower for a second consecutive trading session on NASDAQ on Monday. The stock edged down 0.12% ($2.16) to $1,831.35, after touching an intraday low at $1,824.55, or a price level not seen since September 5th ($1,815.58).

Shares of Amazon.com Inc have surged 21.93% so far in 2019 compared with an 18.81% gain for the benchmark index, S&P 500 (SPX).

In 2018, Amazon’s stock went up 28.43%, thus, it again outperformed the S&P 500, which registered a 6.24% loss.

The “Amazon Career Day” events are expected to be held on September 17th in six cities across the United States, including Chicago, Boston, Dallas, Seattle, Arlington (Virginia) and Nashville (Tennessee).

The job posts range from warehouse workers focused on packing and shipping on-line orders, who are to receive a minimum hourly wage of $15, to software engineers, who can receive an annual salary of over $100 000.

All of the vacant positions are for full-time jobs with benefits, the e-commerce giant said. Those vacant posts are not related with the regular increase in hiring during the intensive holiday shopping season, it said.

“I encourage anyone willing to think big and move fast to apply for a job with us,” Jeff Bezos, Amazon’s Chief Executive Officer, said in a statement, cited by The Associated Press.

“You’ll get to invent and see Amazon making even bolder bets on behalf of our customers,” he added.

Analyst stock price forecast and recommendation

According to CNN Money, the 42 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $2,262.50, with a high estimate of $2,615.00 and a low estimate of $2,080.00. The median estimate represents a 23.54% upside compared to the closing price of $1,831.35 on September 9th.

The same media also reported that at least 42 out of 47 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 1 – as “Hold”.

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