Investors pumped up Amazon.com’s stock today to a new 52-week high today as Internet shoppers entered orders for an estimated $1 billion on Monday among all etailers.
Stock in the nation’s largest on-line merchant closed at $179.49 a share today, up $2.29 from last week’s close. The previous 52-week closing high was $178.38.
The Seattle-based etailer is expected to cash in on improving sales throughout the retail sector this year.
Monday, dubbed Cyber Monday by retail analysts, is one of the year’s largest days for on-line sales.
On-line merchants such as Amazon are pumping up sales this year by new offers of free shipping and holiday specials.