Amazon Hits Record High; Nears $1,900 Milestone

Aug 08, 2018

Amazon.com (NASDAQ:AMZN) hit an all-time high on Wednesday, on its way to the $1,900 psychological milestone as news hit the wire that its Prime customers would be able to order food from its Whole Foods grocery stores and pick them up within the hour.

Shares in Amazon were last up 1.19% at $1,884.64, near an intraday high of $1,887.70.

Customers can place orders via Amazon's Prime Now app and ask to have groceries loaded into their car upon arrival at a store, the company said in a statement.

The company noted that customers can choose free pickup in as little as an hour on orders of $35, or in 30 minutes for $4.99.

The new offering is in addition to Whole Foods' delivery service.

The move is part of the retailer’s move to break into the multibillion-dollar market for groceries in the U.S.

Speculation is high for what other markets Amazon may attempt to revolutionize, with analysts from D.A. Davidson suggesting the retailer could take a shot at travel and gas station markets.