Yeah, then they turned around and made it all back up and then some (to 722) in just a couple months. Agree this is overvalued here, but if you are short you better have patience and some good margin gunpowder because this thing can run up on you quickly. I am strictly a short term swing trader on this one. Very risky. Good luck.
You did get that Nasdaq "YEAH BABY YEAH" guy come out right at the top after a 4 year hiatus.
Boom. AMZN dead. Cloud is a commodity, consumer tapped out for retail, interest rates going up, risk-off, analysts all rushing to downgrade, bankruptcies rising, Wal-Mart challenging on shipping, new China competition, Bridgewater cashes out, desperately entering new business like food delivery, etc etc etc. Just like that. Unstoppable force just last week.
Bought yesterday at 702 for a quick $6 trip and waiting for it again here. Will pop up again later in the day. Cant keep this stock down for now. A big drop is coming when investors finally get tired of this bloated pig but that is a way off based on recent action. For now, just enjoy the volatility.
I use AMZN as a trading stock, playing it for excessive moves both ways. It certainly has those. I would never short this for a long period (too risky). Have to admit that I was surprised by the strength of this move up; 65 points in 5 trading days and $30 billion of market cap. It clearly is way overvalued here, but it has shown it can keep going up way beyond my ability to hang on short. I will be back of course. Maybe even next week. Good luck and I am confident your short is gonna pay off.
I wish that were true. The news doesn't really matter with this stock. It will never close down again. You might have guessed I am short and underwater here.
Solid short there. Hope you have patience and additional gunpowder to keep averaging up as this climbs.
Don't see any catalyst for this to drop significantly. Bad news for retail only helps this stock. Check out what happened with Macys news yesterday.
In 5 straight trading days. Average gain is $12/day. Market cap went up $28 billion in 5 trading days. Stunning. This is the single greatest expansion of market cap over 5 days in history. Funny thing is, no real news driving this. Salesforce deal? Retail B&M bad results? Nothing huge that I am aware of, other than general market euphoria and feeling that AMZN story is the best one out there right now.
I thought that yesterday. Wrong. Everyone wants to own it right now. Of course that will change but when? Not today and probably not this week. Maybe next week.