Following its record third quarter loss, shares of Amazon.com, Inc (AMZN) fell sharply on Friday, making it TheStreet's Move of the Day. It was the largest quarterly loss in the online company's history, and sparked investor concerns that the highly diversified e-commerce giant is stretched too thin as it moves into specialized markets like same-day grocery delivery. Amazon reported a net loss that fell much lower than analysts' estimates. Net sales slightly edged out the consensus estimate. Investors have been growing impatient with Amazon, which hasn't been able to deliver profits even as sales improve as one of the world's largest retail companies. Shares of Amazon.com tumbled, closing down sharply on nearly five times its average trading volume as the top loser on the S&P 500 Friday.
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