Amazon is up 8% today because FANG. I’m serious. No one wants to miss the dip the way they did on Facebook so they’re buying Amazon ahead of earnings this afternoon.
Amazon is less than 10% off record highs from about a month ago. I love this company so much I could write adult fan fiction novels about Amazon’s business model. Not even I would buy Amazon here.
The stock could do anything tonight. Expectations are huge and Bezos literally does not care about earnings estimates at all. Throw in this rally and it’s a rough combination into news.
In January of 2014 Amazon missed by 20-cents and the stock fell 10%. That was 2 months after Amazon’s absurd 60 Minutes drone segment. (Note: Amazon will never have drones.) Shares fell more than 25%, total, and it barely counted as a blip by Amazon standards. You don’t need to chase this stock. It comes to you.
Excerpt from my coming book, “So you wanna buy Amazon up 8% ahead of earnings”…
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