Despite a mixed week of trading, shares of Amazon.com Inc (NASDAQ: AMZN) are set to close out May in a strong position, with shares sitting around the $205 level in Friday's pre-market session. They're holding onto an impressive 25% of gains since April, and while the past week has seen some choppy consolidation, momentum may be ready to resume, thanks in part to some high-profile support.
Wall Street has been taking notice of the recent update from Bill Ackman's Pershing Square fund, which just confirmed it had taken a new stake in the tech giant. While the firm didn't disclose the size of the investment, the move has added fuel to the bull case.
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