AMZN Stock to Close Above $300 by August End? Crypto Punters Bet on the Possibility Following Amazon's Impressive Q2 Performance

Cryptocurrency bettors are skeptical that Amazon.com Inc  AMZN) will reach $300 or higher by the end of August, despite the stock’s steady start to the month.What is Polymarket Upto?The betting crowd on Polygon  )-based Polymarket currently assigns only a 16% chance to the possibility. The odds rose over the last day but are down 40 percentage points from a week ago.Similarly, the odds of AMZN topping $310 fell from 48% to 9% in a week. Traders put the odds at 66% for a close above $270 on August 31, and 81% for a close above $260.The stock closed at $271.58 on the last trading day in July, and has gained 2.39% month-to-date. Over a 30-day period, Amazon stock has shot up 12.45%. To reach $300, it needs to rise by at least 10% in August. Read Also: What Do Analysts ThinkThe stock carries a consensus ", with an average price target of $327 and a third-quarter target of $325.The last five ratings all came with higher price targets and a mix of “Buy” and “Outperform” recommendations.Alphabet Recorded Strong Q2The bets follow the company’s better-than-expected second-quarter financials, with both topline and bottom line beating consensus estimates. Amazon expects third-quarter revenue to be between $197 billion and $202 billion, slightly lagging behind average analyst expectationsAmazon has benefited from accelerating demand for its cloud-computing business, particularly as companies increase spending on AI infrastructure.In other news, New York City Mayor Zohran Mamdani backed a law that would increase oversight of facilities used for last-mile deliveries.Amazon, however, said it could hurt the small businesses that handle its deliveries across New York City, leading to job losses.Price Action: Amazon shares dipped 0.39% in after-hours trading after closing 1.32% higher at $278.09 during Monday’s regular trading session.AMZN stock shows a stronger price trend across the short, medium, and long term, according to Benzinga’s Edge Stock Rankings.https://www.benzinga.com/quote/AMZN Read Also: Zohran Mamdani Wants Amazon to Follow 'the Rules' as He Demands 'Accountability,' Backs Delivery Protection Act Photo: PJ McDonnell / Shutterstock