Insights

Harris Technology (ASX:HT8) share price up 9% on Amazon Prime Day update

Amazon Prime Day was a big success for this online retailer…
The post Harris Technology (ASX:HT8) share price up 9% on Amazon Prime Day update appeared first on The Motley Fool Australia. –

The Harris Technology Group Ltd (ASX: HT8) share price is charging higher this afternoon.

At the time of writing, the online consumer electronics retailer’s shares are up 9% to 12 cents.

Why is the Harris Technology share price charging higher?

Investors have been buying Harris Technology’s shares after it released a business update this afternoon.

According to the release, the company experienced a material uplift in sales during Amazon Prime Day.

Across June 21 and 22, the recent Amazon Australia Prime Day promotion saw a record-breaking two days of sales for Harris Technology on the marketplace. During the two days, the company recorded sales totalling $429,963. This was up 32% on the previous Prime Day promotion in 2020.

Underpinning this growth has been its expanding offering on Amazon and high levels of customer satisfaction. In respect to the latter, the company, which was previously owned by Wesfarmers Ltd (ASX: WES), revealed that it has received more than 4,750 individual customer reviews on Amazon Australia over the last 12 months. Pleasingly, 100% of these reviews have been positive.

Harris Technology’s CEO, Garrison Huang, said: “As Amazon has increased their footprint in Australia over the past 12 months, Harris Technology has enjoyed a fruitful partnership which has grown both our businesses. As the leading tech seller on the Amazon Australia marketplace, we have seen strong demand for IT and home office products which accelerated further through Prime Day.”

“The retail landscape has undergone an increasing preference towards online platforms, accelerated by the pandemic and very quick delivery times. Online marketplaces continue to grow as the convenient alternative to shopping centres, so we look forward to further growth alongside Amazon Australia which is emerging as one of the national destinations of choice for online shopping,” he added.

Despite today’s strong gain, the Harris Technology share price is down 40% since the start of the year.

The post Harris Technology (ASX:HT8) share price up 9% on Amazon Prime Day update appeared first on The Motley Fool Australia.

Should you invest $1,000 in Harris Technology right now?

Before you consider Harris Technology, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Harris Technology wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

6 more shares that haunt fund managers

ASX copper shares up and down as copper price bounces back

Here are 3 ASX shares going ex-dividend next week

CBA (ASX:CBA) partners with Xero’s Waddle for new financing product
Wesfarmers (ASX:WES) reportedly looking to buy cancer care provider

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!