NEW YORK (TheStreet) -- Show don't tell. The writer's mantra and is becoming the stockholder's maxim.
The performance of momentum stocks Tuesday and a look at the StockTwits' streams couldn't have made it more clear that investors no longer want to listen to stocks with good stories, they want to buy companies that have proven profits and solid growth tracks.
Amazon (AMZN) epitomizes the change in thinking. Shares are down 22% year-to-date. They fell an additional 2% by midday Tuesday despite Amazon showing progress in the social network arena by teaming up with Twitter (TWTR) to allow customers to add items to their Amazon shopping cart via tweet.
Investors simply didn't care to hear about a new product with the potential to increase profits. Instead, they focused on budget mecca Walmart (WMT) surpassing Amazon in online sales growth -- albeit off of a much smaller base. Walmart's online sales grew 30% vs. Amazon's 20%, a data point highlighted by a trade publication report today and re-reported in the financial press.