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

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…