After Earnings Miss, Does Amazon Prime Justify The Sky High Multiple?

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Mark Melin
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As Amazon reported earnings disappointing earnings Thursday –  Amazon earnings were down 77% on more spending than was expected and it forecast a quarterly loss for the first time in two years – the whisper question made the rounds: at what point does Wall Street look at the stock with a 257 price/earnings multiple find gravity? With its purchase of Whole Foods lining the pocket of Jana Partners, who had purchased the firm before the acquisition was announced and campaigned for an acquisition, Amazon is putting something on display that is more than a retail strategy. In fact, retail might…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

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