Tech Stocks
Amazon’s stock is on its best run since 2022 as Globalstar acquisition fuels rally
Amazon shares are within striking distance of a new record as an $11.6 billion satellite deal and positive cloud momentum boost sentiment
Amazon.com’s latest acquisition of a satellite operator has helped power a winning streak for the tech giant, as shares of the company rallied for the seventh consecutive day on Tuesday.
Amazon’s stock AMZN closed at $249.02 on Tuesday, marking a 19% gain over the past seven days. That’s the best seven-day stretch since August 2022, when the stock rose 24%, according to Dow Jones Market Data. Amazon’s stock is just shy of of its 52-week high of $254, a level previously reached last November.
