I’d Buy Half a Position in Amazon Stock Before Its Oct. 29 Report — and Half After
Amazon (NASDAQ:AMZN) is set to report earnings for the third quarter on Thursday, Oct. 29. If its latest reports are any guide, the stock might move a lot the next day. Shares surged about 15% the day after the company’s July 30 report, and they slid about 6% after its February report.
The stock trades near $252 as of this writing, about 11% below its Aug. 3 closing high of $284.02. I still think it’s a buy.
But I don’t know which way it’ll go after Thursday’s report, and I don’t think anyone else does either. I’d split the purchase instead: half a position before the report, and the other half after it.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.