Topic: How To Invest

Power Growth Investor Hotline – Friday, July 3, 2020

Article Excerpt

AMAZON.COM INC., $2,890.30, symbol AMZN on Nasdaq, is a buy. The company is one of the world’s largest online retailers. It’s also the third-largest digital ad provider in the U.S. and its Amazon Web Services (AWS) is one of the largest cloud infrastructure service providers globally. On June 26, 2020, Amazon announced that it would acquire Zoox, a company that specializes in the development of self-driving vehicles. Zoox is one of the company’s largest acquisitions ever. Amazon has yet to disclose how much it is paying for Zoox. However, the price is likely above $1.2 billion. That’s considerably less than the $3.2 billion valuation Zoox had achieved in a $200 million venture-capital fundraising round in October 2019. The acquisition will give Amazon control of the nearly 1,000-person startup that began operations in 2014. Zoox has so far raised over $1 billion to develop an electric self-driving vehicle. The high-tech firm aims to build a self-driving passenger vehicle from the ground up, along with the…

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