Quick Win by the Algorithm: Amazon.com, Inc. (AMZN)

Quick Win by the Algorithm

Amazon.com, Inc.

On May 6th, 2016, The I Know First algorithm gave a bullish signal of 6.61% for the ticker AMZN (Amazon.com, Inc), which had a predictability indicator of 0.09 In accordance with the algorithm’s prediction, AMZN spiked 6.67% in the following three days.

Amazon.com, Inc. is an American electronic commerce and cloud computing company with headquarters in Seattle, Washington. It is the largest Internet-based retailer in the United States.

The e-commerce giant recently announced very strong first-quarter results with its sales jumpimp 28%. With $1.1 billion of operating income also blew away executives’ forecast of just $400 million.

Also,  new products have been unveiled that are promising great results. Ineed, AMZN has announced the launch of Amazon Video Direct, a competing platform to YouTube. Amazon Video Direct is a platform that allows users to upload their own videos and get paid for it in the process. As an uploader, users will have the ability to decide how videos can be accessed and who can view them. Amazon directly challenges YouTube with its new video platform Video Direct.

Also, Amazon’s ad-supported service looks to threaten Alphabet’s YouTube. Indeed, Amazon claimed that it will keep 45% of the revenue generated from ads during free broadcasts, which matches YouTube’s arrangement.