NEW YORK (TheStreet) -- During the last month, the Nasdaq has caught a cold. Before Wednesday's turnaround, it was down about 5%.
The stock was recently trading at $330.14, down 1.7%.
Amazon has become a proxy for the Nasdaq's troubles, because it is managed for growth instead of for profits and growth slows as a natural consequence of numbers getting bigger.My own trading view, however, is often wrong. In January, I wrote that you should buy shares of Amazon, and everyone sold. The stock is down about 8% since my call. Fire TV that also plays video games. This month, it announced Dash, a scanner that lets you build a shopping list by just pointing to products in the house. Dash works with Amazon Fresh, a service in major West Coast markets that offers grocery shopping, including fresh fruits and vegetables, for $299 a year, a price that also buys you Prime. Amazon is expected to expand the service to other major markets.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts