Notes on Amazon
ATEC notes that with Amazon workers voting down the Union drive at the company’s Alabama warehouse last week, the sentiment surrounding the company could have turned decisively positive.
We note that the since September 2020, Amazon’s stock had gone essentially nowhere, weighed down by the threat of anti-monopoly investigations, as well as money rotation into the sexier Disruption plays such as EV’s or Renewables. There is a good chance this is about to change.
A decisive move on the stock above 3,400 from here will suggest the stock has resumed its uptrend, with a minimum upside target of 3,810 in ATEC’s view.