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April 27, 2007
Amazon's Amazing 2 Day Run-up Slows. Stock Retreats.
Since Amazon reported earnings this week, the stock went on a tear with a two-day gain of $18 and 40%. CEO Jeff Bezos saw his net worth balloon $100M a day in this two day period.
Amazon boosters on Wall Street have been trying to get investors to think of Amazon in new light and the recent reporting helps.
Says Stifel Nicolaus:
“Our investment thesis is unchanged, which is that we believe the market inappropriately focuses on AMZN as a low margin media retailer. We believe AMZN is a platform company with the capacity to grow significantly, not only within the media category, but in all categories of general merchandise retail and we believe the company retains real option value as a web services and digital media business.”
Posted by Paul at April 27, 2007 08:21 PM
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