Yes the float is currently only 3 million shares , that is why it is so easy to squeeze AMZN. There are 19.3 million shares that are held by various insiders, venture capitalists, MM who broght it public etc. They are going to cash out over the rest of this year. The stock is already unrestricted. I expect that they will start selling into this coming earnings (or should I say revenue) report AND more importantly I believe an easy way for them to sell is to write naked calls that are deep in the money. This way at expiration the stock is called away from them and they have earned the premium plus the strike of the call. Probably easier to get rid of stock this way and have less IMMEDIATE impact on stock price. BUT keep in mind that the "float" will likely increase sunstantially over the next couple of months.....it could easily grow to 9, 10, 12 million shares quickly....then watch out! Unless the street can find a helluva lot of new buyers this will be a house of cards on the way down. After all AMZN has NO EARNINGS, TINY revenues compared to market cap and a very limited market with razor thin margins.
For example. Barnes and Noble(BKS) has a market cap around 2.2 billion dollars, and had sales last year of about 2.5 BILLION dollars....AMZN market cap is 1.5 BILLION $ at 63 and had sales approx. 100-120 MILIION $ (thats an M not a B). How the hell can you pay 15 times sales for AMZN when BKS is selling for LESS than ONE(1) times sales??????? BKS has an internet site AND huge super stores with access to the ENTIRE book market, not just the small percentage of people on the internet who are of age with a credit card and not afraid to purchase over the internet who know exactly what they want and don't need to browse or dont want to leave the house? GET MY POINT!.......best of luck, and be careful if you are long. No way to tell when the bubble will burst..........;^)