It’s no surprise to see Amazon shares lower after cloud CEO shakeup

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It’s no surprise to see

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shares lower after cloud CEO shakeup

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announced Tuesday that the CEO of

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Web Services, Adam Selipsky, will step down in June. Selipsky will leave

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’s cloud computing business in a position of strength, with revenue up 17% year over year in the first quarter. Shares of the Club holding were lower by about 0.5% on Tuesday. “He’s done a remarkable job,” Jim said. “I understand why [the stock] is down because he’s a titan.” Matt Garman, an 18-year company veteran who currently serves as senior vice president of sales and marketing at AWS, is set to replace Selipsky. (Jim Cramer’s Charitable Trust is long DHR, AMZN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

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Health care industry,Breaking News: Technology,

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.com Inc,Danaher Corp,GameStop Corp,Morning Meeting Recaps,Jim Cramer,Investment strategy,Markets,Breaking News: Markets,Stock markets,Technology,Inflation,business news
#surprise #

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#shares #cloud #CEO #shakeup

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