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. https://www.cnbc.com/2020/04/19/coronavirus-retail-closures-speed-the-rise-of-amazon.html
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SHARESHARESHARE
HOW THE CORONAVIRUS AND RETAIL CLOSURES ARE ACCELERATING THE RISE OF AMAZON
Under orders to stay home, millions of Americans have turned to online marketplaces like Amazon to order much-needed essentials like toilet paper, food, hand sanitizer and cold medicine. In lieu of neighborhood supermarkets, consumers are relying on online grocery delivery services like Amazon Fresh, resulting in a cascade of delays and out-of-stock notices amid the unexpected rise in demand. Amazon has hired more than 100,000 new warehouse and delivery workers since March to help manage the surge in orders, and it’s planning to bring on 75,000 more workers. The unprecedented demand has propelled shares of Amazon to fresh highs. The stock hit an all-time high on April 16 and is up more than 28% for the year, compared with an 11% decline for the S&P 500. Investors have flocked to Amazon and other stay-at-home stocks like  Netflix and Zoom in recent months, as consumers have come to depend on their services amid the lockdown. ANNIE PALMER READ MORE