What a strange world we live in.
Amazon reported at the close of market trading that its fourth-quarter profits soared 71%, Within minutes, its shares plummeted in after hours trading.
By 4:12 p.m., Amazon shares had dropped nearly 7% to $116.
Amazon shares are especially subject to huge swings because its revenue growth can be so difficult to predict. It has a large short interest that makes Amazon, which has a $54 billion cap value, a favorite among day traders, who like to bet on the shares’ sudden movements…
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