Amazon.com (Nasdaq: AMZN) stock is still more than 80 points off its all-time high, but things are looking up. Shares of Amazon.com gained 8-7/8 to 135 on Wednesday after the company announced that it has a minority stake in online sporting goods retailer Gear.com.
This came one day after the stock climbed 8-3/4 on the news that Amazon.com had launched sections for toys and electronics on its Web site. Another bit of news that helped boost Amazon.com stock on Wednesday was the newest Nielsen/NetRatings report for June. The report said that Amazon.com was the top e-commerce retailer in June. That reinforced Tuesday’s PC Data report that had Amazon.com No. 1 after trailing eBay one month earlier.
Profits or no profits, Amazon.com looks like the leader of the pack.