| Dear Louis, Nick Rokke here, senior analyst with The Near Future Report. I just got off the phone with Jeff Brown, and I wanted to pass along an update. Today we’re raising the buy-up-to price for Amazon (AMZN) to $3,500. The recent announcement of Amazon’s 20-for-1 share split has brought renewed interest to Amazon’s stock. (Note: The split is effective as of June 3. So for every share of Amazon we hold now, we’ll see 20 shares in our account that morning.) While a stock split yields no economic benefit, and we still own the same percentage of Amazon that we did before the split, companies typically outperform the market after a split. Research shows stocks that split gain on average 25% over the following 12 months. That nearly triples the average stock, which gains 9% a year. This focus on Amazon will bring attention to how undervalued the company is. Amazon currently trades at an EV/EBITDA of 26. This is near the valuation we bought it at back in 2019. During the two and half years we’ve held Amazon, the company has doubled its EBITDA… as well as nearly doubled its stock price. Jeff and I expect this will be the case over the next few years. We want everyone to have a position in Amazon for this next leg up. For readers who have already established a position, no action is needed. If we haven’t taken a position yet, we can do so today. Action to Take: Amazon (AMZN) is a buy up to $3,500.
Risk Management: Because we will be holding this stock without a stop loss, I encourage all readers to use rational position sizing. We should remember to never go “all-in” on any one investment. Our mission is to build a model portfolio of companies. That’s how we’ll optimize our success. | Regards, Nick Rokke
Senior Analyst, The Near Future Report P.S. Jeff and I are currently at work on our next issue of The Near Future Report and our monthly portfolio updates. Jeff will provide our next investment opportunity and I’ll have plenty to say about our portfolio. Look for that issue next Monday after market close. | 
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