Jim Cramer on what sunk Amazon’s overinflated stock:
Amazon’s shares fell more than 5 percent in after-hours trading on Thursday after it reported third-quarter earnings per share of 52 cents, while analysts expected 78-cents a share. Revenue came in at $32.71 billion versus $32.69 billion expected
Revenue was in line with expectations but earnings were not. Why didn’t Amazon say something earlier? ‘Peak Amazon’ indeed.