NEW YORK — Amazon has long acted like an ideal customer: a freewheeling big spender with no worries about balancing a checkbook. Investors confident in founder and CEO Jeff Bezos' invest-and-expand strategy flooded into the stock as the company revolutionized shopping, upended the book industry and took on the cloud. Stockholders seemed to like playing Bezos' long game: shares more than quadrupled between 2010 and 2014. Lately, they've lost a little patience. After the Seattle company on Thursday reported a huge third-quarter loss and issued a disappointing holiday forecast, the stock sold off by nearly 10 percent. It's now lost 28 percent of its value since the beginning of the year.
Katherine Braun sorts packages toward the right shipping area at an Amazon.com fulfillment center in Goodyear, Ariz. AP Photo
Associated Press
What is this? Learn more.
What is this? Learn more.
0 comments:
Post a Comment