Amazon.com Inc. (AMZN) saw a big move last session, as the company’s shares fell by about 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for AMZN, as the stock is now down around 13% in the past one-month time frame.
Although this slump was obviously disappointing, this online retailer has seen 1 positive revision and its current year loss consensus has narrowed down over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for AMZN. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
AMZN currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Internet Commerce industry include Autobytel Inc. (ABTL), Overstock.com Inc. (OSTK) and Stamps.com Inc. (STMP). All these stocks hold a Zacks Rank #1 (Strong Buy).
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