I have to say AMZN is one hell of a wacky stock! And it has nothing to do with building the backbone of internet which I think the best internets stocks are! I can see the importance of RNWK, BRCM, INKT and YHOO, AOL... but AMZN?
AMZN is a retail stock with endless potential competitors- nothing they have is unique and technical. It is just like CDNW, SWNT, EGGS, NTKI, CYSP and IBUY. What is so hot about a retail internet stock, trading already at $137.5 just AFTER a recent SPLIT?
I don't short stocks much at all but AMZN is just too wacky and begs to be shorted. The valuation is unbelievable for a retail stock that is going to lose more than $1 a share this year and more next year!
IF AMZN is worth this much, then how about Federated Dept Stores? MAY Co? Neiman Marcus? If these guys go online, how much will the street value these BIG companies with SOLID earnings?
I want to short AMZN so bad but I still need to watch out! First of all, short shares are hard to come by. Second of all, AMZN moves up and down too quickly-very hard to short. Finally, just who the hell are the idiots buying AMZN at $137.5 a share after split? That is $276 a share up from last year's $18 IPO! Comparing with AMZN, YHOO is cheap with positive earning!
I'd like to speak with some of these wackos who bought AMZN at this valuation. Who are they? Most likely small individual investors trying to catch the late train to promise land. The problem is that the train will someday derail and the suckers on the last train will have to WALK to their destination.
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