Amazon.com, Inc. (NASDAQ:AMZN) stock is seeing a nice recovery from this morning’s low as Nasdaq just turned green after falling about 1% earlier. At the time of writing, AMZN stock is up by over 1% to almost its session’s high at $3305.
What is more surprising is that the stock has fallen about 7% after reporting blockbuster first-quarter earnings last Thursday. In fact, the stock made a record high of $3,554 following the earnings.
However, looks like sell on the news happened and traders booked profit. Well, just before the earnings the stock had jumped 9% in a week.
The company’s EPS was $15.79, more than triple the $5.01 a share recognized in the same period a year ago and well ahead of S&P Capital IQ Consensus Estimate of $9.55.
Well, the recent fall may be a good opportunity for investors as once markets recover, AMZN may outperform the market.
Finance and Entertainment Reporter
Richard is a bottle of wine – the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.