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Fast Money Traders Share Their Thoughts On Amazon

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On CNBC's "Fast Money," Guy Adami said that he would take profits in Amazon.com, Inc. (NASDAQ: AMZN) ahead of earnings and would look for a test back to $2,170. The company is scheduled to report earnings on April 23 and it has already jumped around 45% from its lows in March.

Karen Finerman said she never got comfortable with Amazon's valuation, so she doesn't have a long position. She expects it to report high revenues, but also high costs due to the increase in wages. She doesn't know if the costs are going to stay when we get back to normal. She is still not willing to get involved. 

Steve Grasso likes the stock, but he sees some resistance at $2,465 going into earnings. He would be taking profits. The more we see vaccine headlines entering the equation, the quicker people are going to vacate their Amazon positions, said Grasso.

Tim Seymour thinks this is a good environment for Amazon. The company is the biggest beneficiary, but also the best operator and that is why the market is rewarding it, said Seymour. He hasn't been comfortable chasing Amazon, but said the stock is up only 20% in the last 18 months, and it doesn't have to sell-off big on earnings in current environment.

 

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Posted-In: CNBC Fast Money Guy Adami Karen Finerman Steve Grasso Tim SeymourTech Media