5 Market-Moving Stocks to Watch on Monday

In this article, we take a look at five stocks that are on the move today. If you want to take a look at some more stocks that are making headlines on Monday and the latest market situation, go to 10 Market-Moving Stocks to Watch on Monday.

5. Amazon.com, Inc. (NASDAQ:AMZN) is up 2.33% as of 12:58 PM ET after the Washington-based diversified technology conglomerate is receiving attention from retail investors following a 20-for-1 stock split. Although the stock split does not change the fundamentals of the business, it is received positively by analysts due to increased participation by retail investors. Along with the stock split, Amazon.com, Inc. (NASDAQ:AMZN) also announced a new share buyback plan of $10 billion, which replaced the previous $5 billion share repurchase plan from 2016. Rohit Kulkarni at MKM Partners has given Amazon.com, Inc. (NASDAQ:AMZN) stock a post-split price target of $180 and reiterated a Buy rating on the stock.

In its Q1 2022 investor letter, Miller Value Partners shared its insights on Amazon.com, Inc. (NASDAQ:AMZN). Here’s what it said:

“For frame of reference, Amazon (NASDAQ:AMZN) bottomed at the same valuation in the financial crisis (side note: Amazon bottomed at 4x EV/GP after the tech bubble burst)! So there’s historical precedent for the lows being in. We will see whether that holds true this time. Regardless, we think there’s significant upside over a 5-year time horizon. The one other topic I want to briefly address is our volatility. We hope to write something about the topic in more depth in the future, but we want our clients and prospective investors to understand our views on it. We think that volatility is significantly misunderstood. We believe it creates opportunities from which we can profit.”

Amazon.com, Inc. (NASDAQ:AMZN) was held by 271 hedge funds at the end of Q1 2022.