Why I Love Amazon but Hate the Stock

NEW YORK (TheStreet -- The great debate about Amazon (AMZN) continues, and year to date at least, with shares down 28%, it appears that those of us who believe that the stock was overpriced, are winning.

It also looks like TheStreet columnist Rocco Pendola, an Amazon permabull, is going to owe some fellow contributors burgers and beers if the stock stays on its current course.

AMZN ChartAMZN data by YCharts

In my view, the bull and bear arguments for Amazon boil down to one main theme -- that being the disconnect between price and valuation. Perhaps stated better, it's the difference between Amazon from the lens of the consumer, versus the lens of the astute investor.

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