TheStreet’s Action Alerts PLUS Co-Portfolio Manager Jim Cramer says there is no reason to panic about Amazon’s latest earnings report. Cramer says buyers will love the “cult” stock which has been the story of Amazon for the last 300 points. Investors were looking to see a huge increase in the pace of selling but they didn’t get that in the latest quarter. Instead, Amazon talked about raising the price of its Amazon Prime service, which Cramer says is like Costco’s Price Club – once Amazon raises the price and subscribers don’t flee, sales will increase and the company can be more profitable.
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