AMAZON.COM $335.78 - Nasdaq symbol AMZN

AMAZON.COM $335.78 (Nasdaq symbol AMZN; TSINetwork Rating: Extra Risk) (206-266-1000; www.amazon.com; Shares outstanding: 462.0 million; Market cap: $154.6 billion; No dividends paid) has launched its Kindle Unlimited service for a flat $9.99 monthly fee.

Kindle Unlimited offers access to over 600,000 books that can be read at no additional cost on Kindle e-book readers, as well as over 2,000 audiobooks. Amazon is offering a free 30-day trial to entice users to try the service, which is also available using the Kindle app on a smartphone or tablet.

The new Kindle Unlimited also lets users alternate between reading and listening to their books (if those books are available as audiobooks) without losing their place.

The service has limitations—some major publishers, such as HarperCollins and Simon & Schuster, are not participating. As well, it may not include some new releases. However, Kindle Unlimited will add to Amazon’s Kindle e-book revenues at little cost to the company.

Amazon.com is still a hold.

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