NEW YORK (
TheStreet) -- Recently, I wrote at
I was wrong. It rose substantially in after-hours trade.
Betting against Amazon has become a mug's game. Since the market bottom in late 2008 it has risen steadily from a low of less than $50/share to its present high of $265. This has not been accompanied by a rise in earnings, although sales have more than quadrupled. Like an old school dot-com start-up (and .com is still part of its formal name) the company seems to think it's losing money on every transaction but making it up on volume.
This drives conventional analysts batty. In
Chris Gaun of Gartner Group recently
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