Ok, it's now down to $102. $7 more to go to "fill that gap" [Amazon.com Should be Interesting Tonight]
- Amazon.com reported a strong gain in net earnings for the second quarter on Thursday, but the final results missed Wall Street's estimates thanks to higher-than-expected costs for the period. The online retailer saw its shares take a big hit in after-hours trading, falling by 14%, following the results. The company's operating margin forecast for the third quarter also came in below expectations.
Hence my short of Amazon was "correct" but it's simply not part of my makeup to take these kind of risks going into earnings. Hence, I'll only applaud the short mentally, rather than monetarily.
Still grew revenue 40%, just so difficult to keep up with expectations when valuations are so high.