Amazon Stock Gains Amid Pay Hike, New Board Member, Manufacturing Expansion

Amazon's stock rose by 1.59% on Friday as the company announced several key updates. The e-commerce giant is investing $230 million to offer higher pay and more benefits to its Whole Foods team members, who will gain access to Amazon's benefits starting January 1, 2027.

The new benefits include health plans with options starting at $5 a week that provide access to primary care and behavioral health providers with $5 copays. This move is expected to positively impact the lives of over 95% of Whole Foods team members in the US.

In other news, Amazon has appointed cybersecurity expert Kevin Mandia to its Board of Directors. Mandia brings 30 years of experience in combating cyber threats and will help strengthen Amazon's security measures.

The company is also expanding its manufacturing capabilities with a new facility in Socorro, Texas, in partnership with Wiwynn. This move is expected to create nearly 1,000 new advanced manufacturing jobs by the end of 2027 and strengthen Amazon's domestic supply chain.