Sell Off In Amazon Today (AMZN)

by Benzinga Staff
February 1, 2010 2:48 PM | 1 min read | Make a Comment

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A widespread sell off in shares of Amazon.com (NASDAQ: AMZN) is taking place across Wall Street today. The stock has shed nearly 6% of its value and is currently trading at $118.45. AMZN has been under pressure for some time now after hitting a 52 week high of $145.91. There appears to be some concern that Apple's (NASDAQ: AAPL) iPad will take away market share from Amazon's Kindle e-reader. Ronnie Moas at Standpoint Research is using today's sell off to upgrade the stock from Sell (his worst rating) to Underperform (his second worst rating) as the valuation has now fallen below 30X 2011 earnings estimates for Amazon.

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

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