Amazon.com Inc. (AMZN) saw a big move last session, as the company’s shares fell nearly 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $342.99 to $311.73 in the past one-month time frame.
Although this slump was obviously disappointing, the company has seen 1 positive revision and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for AMZN. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
Some better-ranked stocks in the Services sector Liberty Ventures (LVNTA), IAC/InterActiveCorp (IACI) and Orbitz Worldwide, Inc. (OWW). Liberty Ventures carries a Zacks Rank #1 (Strong Buy), whereas IAC/InterActiveCorp and Orbitz Worldwide hold a Zacks Rank #2 (Buy).
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AMAZON.COM INC (AMZN): Free Stock Analysis Report
LIBERTY INTERACTIVE CORP SRS A L (LVNTA): Free Stock Analysis Report
IAC/INTERACTIVECORP (IACI): Free Stock Analysis Report
ORBITZ WORLDWIDE INC (OWW): Free Stock Analysis Report
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