Amazon Hits Thanksgiving Shopping Record Despite Inflation

It doesn’t appear like inflation is stifling shoppers from heading online, particularly to Amazon. The online retailers recorded record shopping numbers over the Thanksgiving holiday in spite of the economic headwinds.

“ said on Wednesday it recorded its biggest ever Thanksgiving weekend this year as shoppers, undeterred by inflation, scooped up everything from New Balance sneakers to Nintendo Switch gaming consoles,” a NBC News report said. “Fire TV Sticks, AirPods and Champion clothing were among the top-selling items, Amazon said.”

Get Added Leverage on Amazon

If Thanksgiving shopping is a harbinger of things to come, it could mean that consumers will continue to be undeterred by record inflation. As such, traders who want added leverage to play Amazon can look to funds like the Direxion Daily AMZN Bull 1.5X Shares (AMZU) to ante up their bullish bets on the online retailer.

AMZU seeks 150% exposure to Amazon stock, giving bullish traders that added leverage in order to extract more gains from their convictions. It can be used as a tactical tool for hedging positions or simply amplifying gains.AMZU Chart

Broad Play on Retail

For a more broad play on the retail sector, tactical traders can look to funds like the Direxion Daily Retail Bull 3X ETF (RETL). RETL seeks daily investment results of 300% of the daily performance of the S&P Retail Select Industry Index.

“The National Retail Federation said on Tuesday a record number of 196.7 million people shopped during the five-day period from Thanksgiving through Cyber Monday, while Adobe Analytics said Cyber Monday sales rose to $11.3 billion, making it the biggest U.S. online shopping day in history,” the NBC News report added.

With its triple leverage, RETL gives investors the ability to:

  • Magnify short-term perspective with daily 3X leverage;
  • Go where there’s opportunity, with bull and bear funds for both sides of the trade; and
  • Stay agile, with liquidity to trade through rapidly changing markets.

The ETF invests in securities found within the index, which is a modified equal-weighted index that measures the performance of the stocks comprising the S&P Total Market Index.RETL Chart

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