Amazon Stock Hitting $300 in August Seen as Long Shot by Polymarket Traders

Polymarket traders are skeptical about Amazon's stock price reaching $300 by August 31, assigning only a 16% probability to this event. This is down from 56% just one week ago.

The betting contract on Polymarket, a prediction platform based on Polygon, shows that traders have cooled their expectations for Amazon's stock price. While they still give a 66% chance of the stock closing above $270 and an 81% probability of finishing above $260, loftier targets are seen as less likely.

Amazon shares closed Monday's regular session at $278.09, up 1.32% on the day, but would need to add at least another 10% from current levels to reach $300 by month-end. The stock has gained roughly 2.4% so far in August and surged 12.45% over a 30-day window.

The skepticism on Polymarket arrives despite Amazon's stronger-than-expected second-quarter results, where both revenue and earnings exceeded Wall Street consensus estimates. Analysts remain broadly bullish, with a consensus Buy rating from 30 analysts and an average price target of $327.