5 Big Companies That Don’t Drug Test Employees

2. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 243

In 2021, Amazon.com, Inc. (NASDAQ:AMZN) relaxed its drug testing policy and announced that it would not screen for marijuana in its pre-employment drug testing. The company only tests truck drivers and heavy equipment operators for marijuana, since it is mandated by the Department of Transportation. 

On April 27, Amazon.com, Inc. (NASDAQ:AMZN) reported a Q1 GAAP EPS of $0.31 and a revenue of $127.4 billion, outperforming Wall Street estimates by $0.11 and $2.85 billion, respectively. 

According to Insider Monkey’s first quarter database, 243 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN), compared to 240 funds in the prior quarter. Harris Associates is a significant position holder in the company, with 22.8 million shares worth $2.3 billion. 

This is what Baron Funds said about Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2023 investor letter:

“Amazon is probably the best example of a company that was built with an ability to rapidly adapt to change from its very inception. We have written a lot over the years about how Amazon’s culture and organizational structures prioritize and enable rapid innovation. Historically, programming code was written in a sequential waterfall fashion, creating significant interdependencies between different developer teams in the organization and slowing down innovation. Amazon famously required all developers to expose their work externally via standardized Application Programming Interfaces (APIs). A novel and risky approach, it enabled development teams to work in parallel, created a rapid feedback loop with customers, and turned Amazon into one of the most innovative companies in the world. The culture of constant experimentation and the willingness to take risks and fail fast (remember the Amazon Fire phone?) became the core pillars of the company’s culture and led to revolutionary ideas like third-party sales (letting competitors sell similar products alongside your own), Amazon Prime Video, and Amazon Web Services (AWS), making the company a disruptor and leader in multiple multi-trillion-dollar industries.”