Why Amazon Stock Is Breaking Out, According To Jim Cramer

Andy Jassy took the reins from Jeff Bezos and officially became the CEO of Amazon.com Inc (NASDAQ: AMZN) Monday. The stock is making new all-time highs following the C-suite transition.

Related Link: Jeff Bezos Is Officially No Longer The Amazon CEO

Amazon's stock shouldn't have been trading sideways for as long as it was, Jim Cramer said Tuesday on CNBC's "Squawk On The Street."

Amazon took a remarkable amount of market share during the COVID-19 pandemic and it isn't giving it back, he said. 

A lot of people who shopped in stores or at other places besides Amazon began using Amazon to shop last year, he said. 

The people who transitioned to shopping on Amazon liked it so much they are sticking with it, Cramer said. 

AMZN Price Action: Amazon is up 11.22% year-to-date.

At last check Tuesday, the stock was up 3.43% at $3,631.26.

Photo: courtesy of Amazon.