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Quantum Trading Strategies CIO Sean Udall commented on Amazon.com, Inc. AMZN.
Udall felt that the IPO of Alibaba Group Holding Ltd BABA was one of the best things to happen to Amazon as Alibaba’s high valuation helped push up Amazon’s stock price.
Udall was expecting a “relatively good” quarter for Amazon when it reports Thursday.
While Udall was uncertain about how much upside there was in the stock at the moment, he made it clear that he would not short Amazon.
Alibaba Group Holding Ltd recently traded at $82.57, up 0.63 percent.
Heading into its earnings release, Amazon.com, Inc. traded at $389.86, up 0.02 percent.
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