Amazon.com (AMZN) Shares Tank

***Written By: Blain Reinkensmeyer Stock Forum ID: StockTrading101***

Shares of Amazon.com (AMZN) are down over 21% going into the last hour of trading, with volume the third most active on the Nasdaq 100 with over 62 million shares exchanging hands as of 3:07 PM. What exactly happened today? Well the online giant announced second-quarter results and lowered their fiscal 2006 operating income expectations. The raw numbers are to between $310 million and $440 million, a reduction of $85 million from previous guidance.

The stock has a high of $29 on the day, but investors are wishing they would have sold yesterday around $34. A sign of the collapse? in the last hour of trading yesterday volume surged and over 2.5 million shares alone exchanged hands in the last 30 minutes. Perhaps someone knew something we did not.

Happy Hunting.

More on this topic (What's this?)
A Storm Blows In From Amazon (Telecom Ramblings, 11/18/08)
10 by 10: A New Way to Look at Yield and Dividend Growth (Dividend Growth Investor, 11/19/08)
Links 10/23/08 (naked capitalism, 10/23/08)
Read more on Amazon.com, NASDAQ-100 Index at Wikinvest

Discuss this post in the StockTradingToGo Forum.

Subscribe To StockTradingToGo.com

Receive our investment research for free to your mailbox. More stock tips, picks, news and more. Just enter your email below:


-- Posted by Blain Reinkensmeyer on July 26, 2006 at 1:14 pm --

Related Posts:

Comments on "Amazon.com (AMZN) Shares Tank" are closed.

Name (required)
E-mail (required - never shown publicly)
URI
Subscribe to comments via email
mrgreen neutral arrow idea ? ! -) roll twisted evil cry oops razz mad lol cool ??? shock eek sad smile grin
Your Comment (smaller size | larger size)
You may use <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> in your comment.