Amazon Shares on the Moon
Fri, Jan 30th, 2009
Amazon’s (AMZN) much-needed good news in a week otherwise full of bad news is proving a boon to investors. The nice gain the online retailer posted in its fourth quarter appears to be reviving traders beaten into submission by the worst economic malaise since the Depression. Amazon’s shares are trading up more than 17 percent as I write this. Sadly, the company’s good fortune doesn’t seem to be doing much for its peers. The tech heavy NASDAQ is trending down and auction rival eBay (EBAY) is slipping, still suffering from those ugly earnings it reported earlier this week.
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