Amazon stock crushed 6% today, 23% for month
That is not a stock that is headed in the right direction. Yikes. All across the nation retail investors are on the phone with their brokers. "Should I sell? Should I buy? Should I hold? Definitely hold - for sure."
Amazon is widely held and every nervous Nellie with a brokerage account has got some of it.
Amazon shares closed down 6.3 percent on Monday suffered their steepest two-day tumble in more than four years, as investors continued to flee the stock following Thursday's disappointing earnings report.
The stock dropped $103.93 to $1,538.88 at the close, after losing $139.36, or 7.8 percent, on Friday, and is trading at its lowest price since April, down 23 percent over the past month. The 13.7-percent drop over two days is the biggest decline since February 2014, when the shares plummeted 14.1 percent.
Of course there are those out there who will absolutely call this a buying opportunity. And on a long enough time scale they are almost certainly right. But how long?