Monday, October 26, 2009

Amazon Stocks Through the Roof

For those of you have been following this blog, you'll remember back in January when I suggested to invest in Amazon stock (this was right around the time that Amazon was making a big announcement, which many correctly assumed would be about the Kindle 2.0). At the time, Amazon stock (AMZ) was trading at $48.40 per share. For the past month or two the price has been hovering around the high eighties/low nineties. I checked today, and Amazon stock is trading for $124.63!

That means my hypothetical investment of $4,840 would now be worth $12,463! I net gain of $7,626... Getting close to twice my initial(hypothetical) investment. I can only imagine that it will continue to go up with the holiday seasons coming up. However, the recent announcement of the Barnes and Noble Nook (the B&N electronic reader) it will be interesting to follow along the success/shortcomings of each business venture.

Good investing,

Plants and Books

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