Amazon’s Buy with Prime is a positive step, but the stock remains overvalued

Workers load packages into Amazon Rivian Electric trucks at an Amazon facility in Poway, California, November 16, 2022.

Sandy Huffaker | Reuters

Amazon‘s (AMZN) soon-to-be widely available Buy with Prime service, which allows Prime members to use their Amazon accounts to shop with other online merchants, could be a profitable revenue channel for the ecommerce giant. However, the Club holding’s stock is still too expensive to buy on the news.