Amazon ups the price of Prime

Article Excerpt

AMAZON.COM INC., $3,162.01, is a buy. The company (Nasdaq symbol AMZN; TSINetwork Rating: Average) (www.amazon.com; Shares o/s: 508.8 million; Market cap: $1.6 trillion; No divds.) has announced that it’s raising the cost of Prime membership to $139 per year, or $14.99 per month. That ‘s an increase of 16.8% from $119 per year, or $12.99 per month. The increased price will apply to new members beginning February 18, 2022. And the increase will go into effect for current members after March 25, 2022, on their next renewal date. Even in the face of its better-than expected 2021 fourth-quarter earnings, Amazon has offered several reasons for the price hike. These include more big-budget shows on Prime Video like “Jack Reacher” and the upcoming “Lord of the Rings: The Rings of Power,” plus its new exclusive licence to stream the NFL’s Thursday Night Football. The company added millions of new subscribers after previous price increases, and it likely won’t lose many customers once the latest hike goes into…