A Shocked Wall Street Reacts to Amazon’s Biggest Crash since 2011

The comments below are an edited and abridged synopsis of an article by Tyler Durden

Amazon shares have plunged the most in almost a decade, tumbling 12%, or just a little less compared to the 12.8% one-day loss in October 2011, after the company gave a dismal outlook and reported a rise in operating costs after its hiring and warehouse construction push.

A Shocked Wall Street Reacts to Amazon's Biggest Crash since 2011 - BullionBuzz - Nick's Top Six
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Dozens of Wall Street firms cut their price targets on the stock after the fact, taking the average to about $3,761, its lowest since 2020 and down from roughly $4,100 at the start of the month. No less than 31 brokers have cut PT over the past month, yet a whopping 57 analysts still call Amazon a buy with just 1 hold and 1 sell.

Durden includes a summary, courtesy of Bloomberg, of some of the sell-side opinions.

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