Premarket stocks: Amazon isn’t a one-way bet during the pandemic
CNNA version of this story first appeared in CNN Business’ Before the Bell newsletter. “The current crisis is demonstrating the adaptability and durability of Amazon’s business as never before, but it’s also the hardest time we’ve ever faced,” Bezos said in a statement. Even in the company’s best-case scenario, in which lockdowns last for 12 weeks, costs are expected to rise by £650 million, driven by an increase in payroll, distribution and cleaning and maintenance expenses. But April’s gains obscure two lingering risks: that the economic recovery won’t be as strong as expected once lockdowns ease, and that the virus could come surging back once more normal routines resume. Last year, the grounding of Boeing’s 737 Max jet following two crashes dealt the company its first annual loss since 1997.
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