Amazon.com (AMZN) Stock Advances, Rolls Out New Video Service Similar to YouTube
NEW YORK (TheStreet) -- Amazon.com (AMZN) - Get Report shares are climbing 0.07% to $703.59 on Wednesday morning as the e-commerce giant has launched a new ad-supported video service that allows users to directly upload original videos.
"It's an amazing time to be a content creator," said Jim Freeman, VP of Amazon Video. "There are more options for distribution than ever before and with Amazon Video Direct, for the first time, there's a self-service option for video providers to get their content into a premium streaming subscription service."
The Seattle-based company said the Video Direct service was made available to account holders as of Tuesday.
This move puts the company in a direct position to compete with Alphabet (GOOGL), which owns the online video posting service YouTube.
Not only is Amazon.com a dominant retailer, but the company is also focusing on being a multimedia powerhouse.
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B-.
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. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
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 article's author.
You can view the full analysis from the report here: AMZN
