In a program on Fox Business, MAXfunds.com co-founder Jonas Max Ferris, Political Prospect Editor Kayleigh McEnany and FBN’s Liz MacDonald discussed the tumble and problems of Amazon.com, Inc. (NASDAQ:AMZN). The host of the program said that Amazon has never been in problems regarding sales of products on its websites. It just that it doesn’t make any money for itself from these sales. Amazon.com, Inc. (NASDAQ:AMZN) has reported biggest quarterly loss in a decade. The company is accused of not able to focus on streamlined efforts. Amazon.com, Inc. (NASDAQ:AMZN)’s CEO Jeff Bezos has touted that his efforts are more inclined towards growth rather than profitability at the moment. He thinks that the company’s strategic shift will pay off in the near future. What’s more worrying for Amazon.com, Inc. (NASDAQ:AMZN)’s investors is that its much talked about Fire Phone was also not able to yield the results.
Amazon.com, Inc. (NASDAQ:AMZN)’s stock plummeted by 9% and came down to $287.06 on Friday. Ferris thinks that Amazon is like a 30 years old coupon which isn’t valid anymore. He said that instead of making a phone from scratch, Amazon.com, Inc. (NASDAQ:AMZN) must have bought a company like Motorola to roll out a new phone. This would have, Ferris thinks, a great sales output for Amazon.
Liz McDonald thinks that Amazon.com, Inc. (NASDAQ:AMZN) is the most overvalued, nonprofit stock. She thinks that holiday season can change things for Amazon.com, Inc. (NASDAQ:AMZN) but at the moment, company is unable to focus its lens of one thing. She said that Amazon keeps annoying its suppliers. McEnany also said that Amazon.com, Inc. (NASDAQ:AMZN) is following multi-fascinated market strategy which has exhausted company’s cash and efforts. She said that Amazon.com, Inc. (NASDAQ:AMZN) is best at e-commerce business and it should focus on its core expertise rather than investing in gaming and phones.
Ken Fisher’s Fisher Asset Management hold around 2.5 million Amazon.com, Inc. (NASDAQ:AMZN) shares.
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