More Squawk from Jim Cramer: Don’t Judge Amazon.com (AMZN) on Prime Day

TheStreet’s Jim Cramer said to judge Amazon.com (AMZN) on its ‘mojo’ not based on Prime Day.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Amazon.com (AMZN) - Get Report are higher by 0.69% to $753.39 on Wednesday morning as the company said worldwide orders for its "Prime Day" jumped more than 60% compared to last year.

In the U.S., orders were up by more than 50%, the Seattle-based e-commerce giant said.

"If we look at Amazon on a 24-hour period, even one that they set up, it's going to lead you a little astray," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning.

"What matters is that they are taking share away, going for retail, they're going for apparel and going for a lot of different ends of the economy," Cramer added.

So Cramer said don't judge it by a day, judge the company because it has "mojo."

He added that Amazon.com's Prime service, which offers free two-day shipping, is very hard for other retailers to compete with.

(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial).

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.

The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, expanding profit margins and solid stock price performance. 

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: AMZN

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