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Omor Ibne Ehsan

Should You Buy Amazon Stock as Its Secretive Space Project Kuiper Launches?

Amazon Kuiper Amazon.com Inc. SpaceX Goldman Sachs Internet

Amazon’s (AMZN) space internet services seem to be taking flight as the company successfully launched its first 27 Project Kuiper satellites aboard a United Launch Alliance Atlas V rocket from Florida. This marked the beginning of a planned 3,236-satellite constellation designed to provide global broadband internet access.

This is after years of development and a previous attempt that was postponed due to weather conditions. Amazon is also expected to report its Q1 earnings tomorrow, May 1, and the stock is now down 17.6% year-to-date. Does this space venture make AMZN stock a buy-the-dip opportunity now?

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