PROOF that the market is not rational
I don't follow Amazon the company and all of their strategic moves...I do however shop there a lot.
This is the extent of the due diligence I did on the company a few months back. It took me...I think it was 2 minutes, but it may have been less.
The company said two things: 1) We are selling kindles at a loss (to eat apples market share...which it did not do at all) 2) we are projecting a possible loss
And now the company, which trades at 100 TIMES EARNINGS, is down 9% after hours...because they are predicting a loss and they sold kindles at a loss.
Wow what a shocker, so hard to predict!
Great company for consumers, not really looking to sharp in the short term for investors.