September 28, 2020 | technology | No Comments
Amazon’s (AMZN) – Get Report stock rose on Monday after the online retailer scheduled its annual Prime Day shopping extravaganza for Oct. 13-14, in time for the holiday season.
Shares of the Seattle company at last check rose 1.75% to $3149.80.
Prime Day, which is typically held in July, was delayed by three months due to the coronavirus pandemic.
Concern about supply-chain disruptions and managing excess inventory of Amazon devices amid the pandemic also contributed to the delay of the much-hyped event.
Amazon said it would spend an additional $100 million on promotions to help hard-hit small businesses reach more consumers. Small businesses generally have been hammered during the pandemic as shoppers were forced to stay home.
Starting Monday the tech giant will also offer Prime members a $10 credit to use on Prime Day when they spend $10 on items sold by select small businesses in Amazon’s