By DAVID STEWARTAssociated Press – SEATTLE (AP) The new-looking Amazon.
Com stock photo has a more positive outlook than last week’s, when investors were looking at Amazon’s stock plummeting nearly 50 percent in the week ending Aug. 31.
Amazon shares were up 3.5 percent at $229.60 Wednesday, compared with $217.70 on Aug. 28.
The stock rose 1.6 percent Friday to $225.40.
It’s the most recent increase since the stock was up 2.8 percent on Jan. 29.
The new- look picture was made worse by the announcement of the U.S. National Labor Relations Board’s decision to strike down the state’s ban on collective bargaining for public sector workers.
The ban was scheduled to go into effect on Jan 1, 2021, but was postponed in July amid the global financial crisis.
Amazon, a unit of Amazon.co.jp, is an independent U.K.-based online retailer.
The company has not responded to questions about the strike or the NLRB decision.
The shares fell more than 9 percent Thursday to $218.90.
Amazon is one of several tech companies that have struggled in recent months amid the fallout from the global economic downturn.
The company lost nearly $1.5 billion last year, and has shed more than 1,500 jobs in the past two years.
The online retail giant is still losing money despite having the most profitable quarter in its history.
The NASDAQ composite index, which tracks the S&P 500, fell 0.2 percent.
The Dow Jones Industrial Average lost 2.1 percent, or about 0.5 percentage points, to 19,764.13.
The Nasdaq composite index dropped 2.3 percent, also about 0,5 percentage point, to 7,984.94.