Growth Funds Are Booking From Amazon.com's Stock

From the looks of things, Amazon.com(AMZN Quote) may be pretty high on a bestseller list that is nothing to boast about: the list of stocks that have seen large numbers of funds dump their stake.

During the second quarter, when the online bookseller's stock was getting shellacked to the tune of a 45% drop, fund managers piled out of Amazon.com, which posted a narrower-than-expected loss late Wednesday. At the end of this year's first quarter, 1,039 growth mutual funds owned Amazon.com shares. By the end of the second quarter that figure was down to 223, according to Morningstar.

Most fund managers' instincts -- and company policies -- keep them from telling the world what they're buying and selling. But sometimes they don't have to say a word. The numbers speak volumes about what the pros think of the online bookseller's near-term prospects. ...