Last ER Amazon had a great reversal as a big sell-off triggered by earning miss was corrected after investors realized that the miss was due to investment in fulfillment center and marketing for Kindle. It's that kind of strategy question: long term or short term? Investors finally took the long term view.
It's important for Amazon to beat earnings this quarter otherwise another round of selloff will be there. We'll see how it develops. If you look at the ER day return graph Amazon definitely has better results in general.
Note: be careful these statistics are not enough for you to bet ERs. My view on trading ERs is not to gamble before the release rather to understand the release afterwards and trade/invest correspondingly.
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