Nasdaq AMZN Amazon

Robinhood has brought millions of new people into the world of investing. The commission-free trading platform's users have also emerged as a market-moving force in their own right, and some stocks favored by the its members have posted explosive gains in relatively short periods

U.S. sportswear maker Nike on Wednesday lost its fight to stop a probe into its Dutch tax affairs, as Europe's second-highest court backed an EU investigation opened two years ago.

Amazon (AMZN) officially launched its new mobile-first digital experience, Kindle Vella, which offers interactive reading for serial fiction stories.  

Kindle Vella’s interactive stories are available in the U.S. on the Kindle iOS app and Amazon.com. These stories are published serial-wise, in 600-5,000-word episodes. The first few episodes are offered for free; after that, episodes can be unlocked with Tokens. Tokens are sold on Amazon and on the Kindle iOS app. (See Amazon stock chart on TipRanks)

David Naggar, vice president of Books and Kindle Content, Amazon, said, “We designed Kindle Vella as a mobile-first experience because we know readers are becoming more and more interested in stories that can be read quickly on their phones. At the same time, readers want the connection that you get from reading a story or author for a long period of time".

International bestselling author Audrey Carlan said, “I’ve published close to 30 novels, and I’m enjoying the adventure of writing The Marriage Auction in this new format." She added “Kindle Vella works perfectly for an author who really wants to dig into their story and characters, and give the readers something they’ve never read before.”

Amazon’s continued focus on expanding and diversifying its business is noteworthy. Recently, it partnered with e-commerce SaaS (software-as-a-service) provider BigCommerce to enable U.S. merchants to avail themselves of Amazon’s Multi-Channel Fulfillment to fulfill orders, irrespective of whether they sell on Amazon. Following this announcement, Bank of America Securities analyst Justin Post reiterated a Buy rating on Amazon with a price target of $4,360, implying a 18.6% upside potential to current levels.

Post believes that this partnership could potentially bring $15 billion in additional revenues in the near future. He said, “We see the BigCommerce announcement as a clear indication that Amazon is working toward building a logistics services business, a potential positive for the stock. We have previously detailed a $15bn revenue opportunity by 2025 for Ship with Amazon. Capturing 15% of non-Amazon eCommerce Shipping market would translate to an incremental 1.7bn packages or a 24% increase in existing delivery scale."

Consensus among analysts is a Strong Buy based on 32 unanimous Buys. The average Amazon price target of $4,299.35 implies 16.9% upside potential to current levels.

Furthermore, TipRanks’ Stock Investors tool shows that investors who hold portfolios on TipRanks currently have a Very Positive stance on Amazon, with 5.9% of investors increasing their exposure to AMZN stock over the past 30 days.

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(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)

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