Long-Suffering Amazon Shareholders Catch a Break

I remember thinking I was getting a good deal on Amazon in the summer of 2000 when cash concerns had knocked its stock price down to $50.  Then it went to $6.  Then it survived the bankruptcy forecasts and Internet bust and got up a good head of steam.  Then Jeff started running it like a private company.  Then, then, then... Anyway, now, 7 years later, I've finally clawed my way back to even again.

Amazon hasn't become the company I hoped it would back when I put that $400 target on it ($67 in today's split) in December 1998.  As you may recall, the stock blasted through the target in two weeks, soared to $600, and then, over the next 18 months, collapsed. Amazon's still a great franchise, and I'm still a happy customer.  I don't own the stock because I expect it to soar.  I own it because...well, for old times' sake and because I'm going to own it until it breaks through $400 ($67) again or goes bust, whichever comes first.  I don't follow the company closely enough to have insight into this quarter's numbers.  But they certainly come as a breath of fresh air.

Comments

[Victor]

Ha, you sounds like a dilettante day trader dealing with a trade that's gone bad.

Amazon is still absurdly valued. It's a bookstore for goodness sake!

[King Troll]

Yeah i remeber when you put that $400 target on it. I bought it at the top. I was 18 and had about $400,000 at the time from EMC, Cisco, DELL, and JNPR. Orignally made from drug profits. I pulled in Mcdonalds called up my broker at the time and bought a shitload of Amazon. By 2001 I had -$20,000.

Yeah Fuck you Henry. Those were the easy days. Now it's all hard work and playing with my $5000 portfolio.

For the record, I was out of the market, turned of CNBC, quit watching financial news from 2001 to about 2005. Then found this board last year. No im not mad at you bro. I learned from those days and easy money always leaves fast.

[tab]

Don't dog Amazaon before you see who is holding large positions in it.....there's some pretty smart money that has been long on Amazon post the dot com crash...

[Raj]

Amazon is no longer book company. It is retailer with online store. It needs to be valued as a retailer not as book store (border or b/n). Their model is becoming similar to eBay where they allow others to sell on their website and start taking in commission. In the books area they have very good sucess. In other area success is mix. they do not have same bandwidth as eBay in other areas. eBay is king of e retailers with thousands of mom and pop retailers selling via it online.

[Raj]

BTW, I still remeber $400 call. I am glad that money has been recovered. Think of Sun Micro Sys from 2000. It has never reached to that price of 2000. For past many years, it is range bound in 5 to 6 bucks.

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