Jeff Bezos: Amazon Is Just A Startup
Amazon.com, Inc. (NASDAQ: AMZN) is doing poorly when it comes to its quarterly results. However, its CEO Jeff Bezos considers the $150 billion company still as a startup and thinks that startups can’t provide stability to shareholders. Bezos made this comment while speaking at the Business Insider Ignition Conference.
CNBC's Courtney Reagan reported on what Bezos had to say at the conference and Pete Najarian shared his views on Bezos’ comment.
"We would all love all our numbers to be smooth lines up until the right and that will be terrific, but that's not how it works. Those numbers are output measures and I guess you could try to manage your quarterly earnings very precisely, but I think personally that would be a mistake," Bezos said.
Reagan reported, "Bezos later added that Amazon is a volatile stock and always has been, he had then equated it to a startup, he said ‘We're just a startup’ there is a lot of volatility in startups. So, if you are looking for smooth, predictable investments and stock prices, this just may not be the one for you. Doesn’t look like he is changing his game-plan anytime soon."
When Najarian was asked about his views on Amazon, he replied, "There are all kinds of arguments you could throw at them. They continue to try to innovate, they continue to try to create something out of Amazon, but some failures along the way as well […] So, I am not in the name, I find it a very difficult name to trade."
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