Amazon.com, Inc. (NASDAQ:AMZN) is trending today after Bloomberg reported the e-commerce giant had considered whether to bid for the organic grocer Whole Foods Market, Inc. (NASDAQ:WFM) last fall according to the newspaper’s sources. Although it never pulled the trigger for Whole Foods, Amazon.com considered a purchase due to its need to beef up its grocery business, which is more difficult to gain market share without having physical stores. Given the massive size of the segment, delivering groceries could be a major growth area for Amazon.com, Inc. (NASDAQ:AMZN) and having physical stores would give consumers the option to pick up their orders at convenient locations as opposed to just having them delivered in temperature controlled totes. Whether Amazon.com ultimately buys its physical grocery stores, builds brand new ones, or opts for the drone/augmented reality/virtual reality approach is anyone’s guess at the moment.
What Does The Smart Money Sentiment Say?
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Of the 742 elite funds we track, 123 funds owned $14.44 billion of Amazon.com, Inc. (NASDAQ:AMZN) and accounted for 4.10% of the float on December 31, versus 150 funds and $20.79 billion respectively on September 30.
The Bottom Line
Amazon.com, Inc. (NASDAQ:AMZN) is trending due to a Bloomberg report that said its sources say the e-commerce giant had considered buying Whole Foods but ultimately didn’t bid. For more reading, check out ‘Top 10 Online Shopping Sites In the US‘.