Expecting it to hit bottom again after earnings
Drew up something similar for NFLX and it hit the target on the button. If charts are to be believed, AMZN still has a ways to go, which means it will be a huge drag on the market. The last time AMZN missed targets, it traded down then sideways until the next earnings. I don't expect a big up movement until then. No position, thing just costs too much.
Up a ridiculous amount barely beating estimates. With the lack of liquidity in the market, this should head right back down to low $40's by next earnings. There is a chance it can reach ATH before tanking though I doubt it.
Don't think it'll completely tank, but I figured yesterday wasn't the bottom.... No position, just an idea.
If they make a profit, it's back to $11