Amazon.com, Inc. (NASDAQ:AMZN) has announced plans to take on 70,000 seasonal workers for the coming holidays, and the market seems optimistic about the move. Shares rose by more than 2.5 percent on yesterday's market after the company announced the plan.
Amazon's valuation is still far above what would be deemed reasonable, and its stock chart this year is beginning to resemble its chart in the heat of the dot com bubble. Does a 40 percent rise in seasonal hiring at Amazon.com, Inc. (NASDAQ:AMZN) really justify increased optimism about the company given the huge expectations already built in?
Analyst attitude on Amazon
The attitude that lead to...
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