Investors have bid up shares of Amazon 63% year-to-date, as the company has seen a surge in e-commerce business as more consumers shop from home amid the COVID-19 pandemic.
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Amazon's steep rally is clearly illustrated in the distance between today's stock price and its 50- and 200-day moving averages. As of Wednesday afternoon, Amazon traded 15% higher than its 50-day moving average of $2,625, and 45% above its 200-day moving average of $2,088, according to data.
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