Amazon.com (Nasdaq: AMZN) has been one of Wall Street’s darlings for some time. From its 2008 lows to its early 2014 highs, the company has seen a meteoric 1,000% rise in its stock price and has expanded its product lineup and reach to become the largest online retailer in the world. This is certainly impressive and may not seem like a company you should be bearish on, but that 1,000% gain wasn’t a straight uphill shot. It was fraught with corrections of 10%, 20%, even 30% and more, and I believe we are on the precipice of another. Read More
Amazon.com (Nasdaq: AMZN) has been one of Wall Street’s darlings for some time. From its 2008 lows to its early 2014 highs, the company has seen a meteoric 1,000% rise in its stock price and has expanded its product lineup and reach to become the largest online retailer in the world. This is certainly impressive and may not seem like a company you should be bearish on, but that 1,000% gain wasn’t a straight uphill shot. It was fraught with corrections of 10%, 20%, even 30% and more, and I believe we are on the precipice of another. Amazon fired off a slew of new products this year, including tablets, a set-top box and its first smartphone, with mediocre success. And on Thursday, I had the pleasure of briefly discussing Amazon’s drones on Fox Business. While drones delivering goods to your doorstep within 30 minutes of purchase is a nifty idea, and Amazon has hired NASA engineers and researchers to further the project, it adds little near-term value to the company. And it’s certainly no reason to pay almost 500 times earnings for AMZN. #-ad_banner-#Let me say… Read More