Amazon stock reached a new high today with a peak of $1,646.48 per share, due to recent announcements of company’s expansion programs.
The company experienced a 16 percent drop in evaluation earlier this year, rebounding with a strong earnings report late April. This period’s stock price beat Wall Street’s expectations by $2 per share.
The correlation to the rise in stock price is due to the recent announcement for Amazon’s second headquarters. Amazon acquired an old FedEx warehouse in Pittsburgh for the new Amazon Flex program.
The Amazon flex program is a courier-style service, that offers people the opportunity to make some extra money through deliveries around time blocks. The Amazon Flex delivery station allows for the couriers to pick the items up, scan the bar code, and provide directions for the delivery.
The new Flex program isn’t limited to retail and includes restaurant delivery options. The Flex program is the delivery system for their two-hour delivery option, Amazon Now.
Another new program by Amazon has increased share price through the discount service for Prime users at Whole Foods grocery store. This goal of this new initiative is to convert Amazon users to switch to Prime.
Amazon reported in April that Prime reached 100 million users, which was also peaked the stock price. Check out the video above for more Amazon developments.