Amazon Tech Stock Is Heading To The Moon, Says Mark Cuban
The global crisis in the middle of which we are since the coronavirus pandemic took hold of the world has been triggering disaster all over the world.
The healthcare systems were badly hit, and the global economies as well. The world is seeing unprecedented changes in various areas, and we’re also witnessing a digitalization that’s taking place at an extremely fast pace.
Not everything s falling apart these days. More experts said that, for instance, these harsh times are the perfect scenery in which crypto will be showing their true potential, and Bitcoin is already gaining more interest these days, with more people seeing the king coin as a viable safe haven.
A specific tech stock is heading to the moon
Crypto critic Mark Cuban said that there’s a specific tech stock that is poised to reap the benefits of this horrible pandemic that triggered the global crisis in the middle of which we are these days.
Since March, Amazon shares have climbed 29% year-to-date compared to the S&P 500′s 17% loss.
The reason for which this is happening is not that hard to figure out: quarantined Americans rely on the e-commerce giant to deliver food and other household items.
During an interview on CNBC’s Fast Money, Cuban said that he believes that the tech stock will continue to surge due to the fact that its services are skyrocketing.
“I think it goes up, up, up, up, up. People who weren’t comfortable dealing with Amazon for consumables, for food, for produce even, I think they’ve gotten to that habit now… I think Amazon just takes off. The stock is only going to go up,” he said.
Mark Cuban says Amazon stock will keep going ‘up up up’ because of behavior change during shutdown https://t.co/EL98V9zsM8
— CNBC (@CNBC) April 20, 2020
He is pointing out the fact that an enduring behavioral shift in favor of Amazon has already taken place.
Cuban says that even after the economy reopens, services will remain high because people are prioritizing their safety and health.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.