Amazon shares open lower as it begins seven days of Black Friday sales

Amazon shares open lower as it begins seven days of Black Friday sales
Written by:
Ilona Billington
16th November 2018

Amazon shares opened lower Friday, as the tech giant begins a seven-day Black Friday sale ahead of the holidays. The sale period has previously proved a money spinner for the business, which is likely why Jeff Bezos’ company has opted to extend it, in 2018.

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By 1435 BST, Amazon shares were 2% lower at $1,587.19. The stock has been a little mixed in recent weeks, with a downward trend, in line with other FAANG socks.

Amazon’s seven-day Black Friday event

Amazon confirmed the week-long Black Friday event and said that thousands of deals will be available to shoppers, daily.

“Whether customers are readying their house for the holidays or searching for gift-giving inspiration, they will find incredible savings and fast, free shipping options on the hottest items across toys, electronics, fashion, beauty, kitchen, home and more, in addition to Amazon Devices and thousands of deals from small and medium-sized businesses,” Amazon said.

The tech and etail behemoth has deals across every department and additional, enticing daily deals to take advantage of, too. Meanwhile, Amazon’s own tech devices will be on sale over the seven-day period too. This will likely encourage even more households to become Alexa users, an additional benefit for Amazon.

Blumhouse to create 8 features for Amazon Studios

Separately Blumhouse Television is set to create eight new feature length thriller programmes for Amazon’s TV streaming service.

The deal shows that Amazon remains committed to increasing its Prime TV content for consumers to help encourage customer retention while also gaining new subscribers for its service.

“We are delighted Amazon is entrusting Blumhouse to deliver its signature thrills and chills to its global audience through this deal,” Blumhouse founder Jason Blum said. “This is a great opportunity for Blumhouse Television to empower underrepresented filmmakers offering a fresh take on the dark genres loved by fans the world over.”

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