Amazon Stock Takes a Breather After Booting Parler

Analysts are overwhelmingly optimistic on the stock

Deputy Editor
Jan 11, 2021 at 10:41 AM
facebook twitter linkedin


The shares of Amazon.com, Inc. (NASDAQ:AMZN) are down 1.9% at $3,122 at last check, after the e-tailer behemoth stopped hosting Parler, a social media operation popular with conservatives and supporters of U.S. President Donald Trump. Before Amazon Web Services made the decision, both Alphabet (GOOGL) and Apple (AAPL) removed Parler from their app stores, after it was found that some rioters that stormed the Capitol on Wednesday, Jan. 6 had used the Parler to promote the attack.

Today marks the second time the equity has fallen below $3,150 since trading consistently above that level over the last month. Additionally, the security is seeing pressure from its 140-day moving average -- last week falling below it for the first time since March. Longer term, AMZN is still up 66.3% year-over-year. 

Meanwhile, analysts are overwhelmingly optimistic concerning Amazon stock. In fact, all 32 in coverage call the equity a "buy" or better. What's more, the security's 12-month consensus target price of $3,819.30 is a 21.9% premium to current levels.

What's more, the equity's Schaeffer's Volatility Scorecard (SVS) ranks relatively high at 76 out of 100, meaning AMZN has tended to exceed these expectations during the past year -- a boon for options buyers.

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners