Corona outbreak catapults Amazon stock price to an all-time high. Having a market cap of $1.1 trillion, Amazon previously attained an all-time high in February, and again on Tuesday afternoon when it closed at $2274 per share.
Stay-in orders have forced people to depend on Amazon to get hold of necessary goods. It is reported that Amazon would hire 175,000 warehouse and delivery workers to match the growing demand.
It is possible that Amazon can retain the newly hired workers even after the COVID-19 situation is over. People will still avoid large gathering areas like grocery stores and shopping malls, and this puts Amazon in a unique position for the months ahead.
But the workers have criticized the work conditions at the facilities. Chris Smalls, who was fired for violating social distancing guidelines, has debunked the reasoning and condemned the company health guidelines. The Washington Post reported that Amazon fired two more employees, who had voiced their concerns.
The giant received more criticism when a group of more than 30 attorneys general had asked Amazon to implement policies preventing price gouging of coronavirus related products. Amazon has removed 530,000 offers from its marketplace for the same reason earlier that month.