Comscore says that e-commerce spending on the Friday after Thanksgiving rose 42% to $434 million. That has to be good news for Amazon, which is the largest online retail site in the US by fair with 45 million unique visitors in September.
It is also safe to assume that Wal-Mart should have done well, but its site was down part of the day with traffic problems. It had 22.8 million uique visitors in September. Target’s site sat in third place with 20.9 million visitors.
Amazon’s stock has had a good run, from below $33 on October 23 to its current price above $42. If e-commerce news stays good for the holidays, it could go higher.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own shares in companies that he writes about.
