NEW YORK (TheStreet) -- (AMZN) reported a net loss of $126 million, or 27 cents per share, after the bell Thursday, and the stock quickly went on sale, dropping 12% overnight to start Friday's session at less than $320.

Analysts weren't caught entirely off guard. They were expecting a loss of 15 cents. Sales were right on the consensus prediction of $19.34 billion. Cash flow came in at $5.33 billion.

The company passed off the miss to "investments," and there have been some. Amazon keeps spending on its Amazon Web Services, and it keeps cutting prices. (Amazon is the Walmart (WMT) of the cloud.)

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Amazon keeps spending on warehouses to improve its distribution. Amazon also finished producing its Fire phone during the last quarter -- that goes on sale today.

This didn't stop the bears, who pounded the shares like Ronda Rousey pounding some poor challenger in the Octagon.

One profit-focused investor even predicted the stock will hit $200 before it next sees $400.

Pl-ease. All this is, as the great Yogi Berra once said, deja vu all over again. Our Rocco Pendola for instance, has this great story, titled "Making Sense of the Crash in Amazon stock," datelined April 25.

Read More: Amazon Plunges: What Wall Street's Saying

When Rocco wrote that story, by the way, the stock was trading at $296. After its latest "crash" it was at $317. That's down from $358 at Thursday's close, so traders who picked up shares last time they were rocked and sold right before earnings are sitting pretty right now.

My advice on what to do with those winnings? Put it in Amazon stock. All of it.

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