Why Amazon Followers Should Be Primed for the Stock to Trade at $3000
The hike would mark a 200% increase to Amazon's current trading price.
Amazon.com (AMZN) - Get Report stock could be flying even higher in the next 10 years, according to Wedbush analyst Michael Pachter. Though the hike would mark a 200% increase to Amazon's current trading price, Pachter sees a distinct possibility as long as Amazon stays true to its mission and the government doesn't decide to intervene.
It wouldn't be the first time the stock saw an explosive increase. Since its IPO in 1997, Amazon shares have skyrocketed 49,000% from its split-adjusted day one closing price of $1.96.
Will it be the first to hit that coveted $1 trillion market cap? Pachter thinks so.
Full Story:Amazon's Stock Price Could Explode to $3,000 in the Next 10 Years: Wedbush
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