AMZN stock price was trading at $116.35 at 10:55 AM EDT on Friday
According to Reuters, Amazon (NASDAQ:AMZN) has decided to stop conducting live tests of its “Amazon Scout” home delivery robot. According to corporate representatives quoted by the newspaper, the campaign “did not match customers’ needs,” forcing the e-commerce giant to refocus the program. The initiative won’t be entirely abandoned despite the removal of the live tests. According to the paper, employees who work for the program should also be given internal jobs.
Amzn Stock Slides, To Employ 150,000 People For The Incoming Holiday Season
Walmart buys warehouse automation company
On Thursday, Walmart (NYSE:WMT) revealed that it had finalized a deal to buy Alert Innovation, an online grocery fulfillment automation business.
According to a company announcement, the two businesses have been collaborating with Walmart on fulfillment center technologies since 2016 and will begin testing the Alphabot System in 2019. With the use of autonomous carts, Alphabot helps Walmart (WMT) warehouses fulfill online grocery delivery requests.
Investors in AMZN
Institutional investors, who own 59% of the firm and have lost 27% of their investment over the past year, certainly welcomed the company’s market cap increase of US$56 billion last week. Over 50% of the corporation is owned by institutions, therefore, when combined, they have a likely significant impact on board choices.
It’s not hedge funds that own Amazon.com. Jeffrey Bezos holds 9.8% of the total outstanding stock, with the second and third largest shareholders being The Vanguard Group, Inc. and BlackRock, Inc. at 6.8% and 5.8%, respectively.
AMZN stock price and prospects
With a commanding 34% market share of the $203.5 billion sector, Amazon Web Services (AWS) has grown into a giant in the cloud computing space. AWS, which was introduced in 2006, runs websites and apps for organizations, schools, and governmental bodies all around the world. As a result, AWS generated 100% of Amazon’s operating profit and 13% of its total revenue in the final quarter of 2021. On Thursday, the price of AMZN stock reached $120.30.
Featured Image – Megapixl © M-sur
Author Jowi Kwasu 
