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Benzinga
Benzinga
Business
Wayne Duggan

If You Invested $1,000 In Amazon Stock At Its Pandemic Low, Here's How Much You'd Have Now

Investors who have owned stocks in the last year have generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 64%. But there is no question some big-name stocks performed better than others along the way.

Amazon’s Big Run: One company that has been a solid investment in the last two years has been e-commerce and cloud services giant Amazon.com, Inc. (NASDAQ:AMZN).

Fortunately for Amazon investors, the COVID-19 pandemic actually boosted demand for Amazon’s e-commerce sales, delivery, streaming video/music and its cloud services.

At the beginning of 2020, Amazon shares were trading at around $1,875. By the beginning of March, the stock was up to $1,906 despite news of the coronavirus spreading in China prompting concerns about a U.S. pandemic.

Amazon ultimately bottomed at $1,626.03 during the pandemic-driven March sell-off. Fortunately for Amazon investors, the dip did not last long.

By mid-April, Amazon shares were back at new all-time highs above $2,200 and got as high as $3,552.25 in September.

Unfortunately, while the rest of the market was making new highs in the second half of 2020, Amazon was trading mostly sideways in a wide range of between around $2,900 and around $3,500.

Related Link: If You Invested $1,000 In General Electric Stock At Its Pandemic Low, Here's How Much You'd Have Now

Amazon In 2022, Beyond: Amazon made it as high as $3,773.08 in July 2021 before pulling back to around $3,168 today.

Still, investors who bought Amazon stock on the day it hit its pandemic low and held on have generated a nice return on their investment. In fact, $1,000 in AMZN stock bought on March 16, 2020, would be worth about $1,943 today.

Looking ahead, analysts are expecting Amazon stock to gain more ground in the next 12 months. The average price target among the 45 analysts covering the stock is $4,100, suggesting 29.4% upside from current levels.

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